ColorTyme extends its financing programs for franchisees
ColorTyme recently announced that it has expanded its financial-assistance program offerings for franchisees by adding SBA loans to its growing portfolio of finance options. According to the information provided, the U.S. Small Business Administration recently revised its franchise eligibility guidelines and operating procedures, implementing a streamlined review process that expedites the processing of SBA loans. As part of that review process ColorTyme has been named an approved SBA franchisor and is listed on the SBA’s Franchise Registry.
Jim Deering, director of franchise development for ColorTyme and RimTyme, commented, “No other rent-to-own (RTO) franchisor has such a broad spectrum of capital and inventory financing programs in its arsenal. Coupled with the special fee structures and discounts we have created for highly qualified applicants and military veterans, I can think of no other small business opportunity as attractive as a ColorTyme or RimTyme franchise.”
ColorTyme franchisees operate 210 rent-to-own/rental-purchase stores in 34 states; RimTyme operates an additional 18 stores in eight states. The company is headquartered in the Dallas suburb of Plano, Texas, and is an independent, wholly owned subsidiary of the largest RTO company in the world, Rent-A-Center. (kbp)