Business or real estate brokers’ role in franchising.

August 30, 2012

A clever animation that mentions Subway but is universal.

Spot on for the United States and fundamentally accurate for Canada and any other country.

  • Nice touch mentioning the veterans’ franchise program scams (VetFran).

See Little Caesars: Ist U.S. discount program Imported for Canadian military veteransJanuary 2009 post on FranchiseFool.com.

Cross posted on FranchiseBanker.ca.

 


TD Bank and franchisor sued over lending practices involving U.S. guaranteed small business loans

August 10, 2012


From Shane D. Gosdis at the franchiselawblog.net, on December 8, 2011 (Franchisees Sue Matco Tools and TD Bank Alleging Loan Fraud Scheme):

The plaintiffs allege that Matco Tools and TD Bank “in a loan fraud scheme to encourage unsophisticated borrowers to enter into risky business loans to buy Matco Tools franchises.”  According to the plaintiffs, the “scheme enabled Matco to sell more franchises and TD Bank to make risky loans without concern” because the “bank knew if the loans failed, the loans would ultimately be repaid by the United States taxpayers through the SBA guaranteed loan program.”

Copy of Verified Complaint and Jury Demand (download, 24 page pdf)

Moving attorney estimates a class action suit involving “between 150-to-200 plaintiffs” stretching back until at least 2004.

Other coverage:

Cross-posted on FranchiseBanker.ca


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