EFG Franchise Opportunity

Ken Wheeler, President, Equipment Finance Group (EFG) in Fresno, California is advertising his new “EFG Franchise” in many newspapers, including eBay.

“We are different from the rest as we have our own lines of credit and fund leases,” he said. “If the others place a lease, they are brokering.  We can offer tremendous rates and have the funders, which makes a great difference.”

He is offering two franchise packages, one limited for $2,500, and the other $7,500 full package, where EFG is responsible for all “representations and warranties” and the franchisee works under the EFG license.

They also utilize EFG documents and receive full support.

Both include  five days of instruction at their Fresno, California facility.

He states there are many who are working without the licenses required by their states.  For instance, in California, he claims many “super brokers” operate without a California Finance Lender's license, and there are others who have the license, but do business with brokers who do not have a license.  This is prohibited and can invalidate leases arranged by the company, along with fines and license revocation not only in California, but many states.

Most banks in California require those who send leases to them have a license, and if they are discounters, also have a State Board of Equalization license.

    Loan/Lease State Statutes*

http://www.leasingnews.org/Conscious-Top%20Stories/Loan_Lease_Statue.htm

 * The above is from our archives, and needs to be up-dated.  If any one can help us up-date it, please send to : kitmenkin@leasingnews.org

    California Finance Lender Law

http://www.leasingnews.org/Conscious-Top%20Stories/cal_license.htm