SAN DIEGO, Oct. 11, 2010 (GLOBE NEWSWIRE) -- Fresh Healthy Vending announced today that its franchise offering has been approved for inclusion into the Small Business Administration and is now listed on the SBS Registry to assist entrepreneurs and small businesses in obtaining financing for Fresh Healthy Vending franchises. These loans assist veterans, many of which have served multiple tours in Iraq and Afghanistan, with the new Patriot Express loan program. The SBA has created this new program to assist returning veterans, including the Guard and Reserve, to help re-establish their civilian business careers and to either restart their businesses or to start new businesses.
All veterans, service disables veterans, active duty service members, reservists-national guard and spouses and widows of the above are eligible. Patriot Express helps veterans obtain financing when they might not be eligible for business loans from banks. "It's a flexible loan program, since financing can be used for purchasing a Fresh Healthy Vending Franchise," says Jolly Backer, CEO. When buying a franchise from Fresh Healthy Vending, the loan proceeds go towards the purchase of the vending machines, procurement of the vending machine locations, training as well as working capital for the business.
Loans are available in various loan amounts, and the loan guarantee covers 75-85 percent of the loan value, depending on the size of the loan. Patriot Express has SBAs lowest interest rates, generally 2.25 percent to 4.75 percent over the prime rate (currently 3.25 percent), depending on the size and maturity of the loan. Patriot Express also has SBAs fastest turnaround time for loan approval and requires banks to be more flexible in the types of collateral accepted. Collateral is not required by the SBA for loans up to $350,000, provided the bank is willing to waive collateral.
About Fresh Healthy Vending
Fresh Healthy Vending is the leading healthy vending company in the U.S. and the only vending company that offers 100% juices, fresh vegetables and fruits, smoothies, and yogurts in every one of its healthy vending machines. Its model includes state of the art equipment, location procurement services, product distribution and development and comprehensive marketing support. Under the leadership of vending industry veteran CEO Jolly S. Backer, Fresh Healthy Vending is extremely well positioned for growth and continued success in the automatic retail and franchise markets.
For more information please contact Fresh Healthy Vending at (858) 210-4200 or pr@freshvending.com