Under what circumstances might Caring Senior Service offer financing to franchisees?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
If you are an existing Caring Senior Service System franchisee, or an employee of a Caring Senior Service business, we may offer you financing for a portion of your initial franchise fee, up to a maximum of 50% of the total initial franchise fee which would be due to us. As a condition of such financing we may require that you meet certain minimum standards, including that you have achieved GreatCare® Master certification.
If you obtain financing through us, you will have to execute the Promissory Note (Exhibit I to this Disclosure Document) and its related Guaranty of Payment (Attachment A to Exhibit I). The security that we require in exchange for offering this financing to you is the execution of the Guaranty of Payment by each of your Owners, as defined below.
| Obligation | Section in Agreement | Item in Disclosure Document |
|---|---|---|
| (j) Warranty and customer service | Article 19 | Item 16 |
| requirements | ||
| (k) Territorial development and sales | Section 9.3 | Item 12 |
| quotas | ||
| (l) On-going product/ service purchases | Section 9.1 | Item 8 |
| (m) Maintenance, appearance and | Sections 2.2, 4.4, 9.1 and 9.2 | Item 6 |
| remodeling requirements | ||
| (n) Insurance | Article 12 | Items 7 and 8 |
| (o) Advertising | Sections 6.1, 6.2, 6.3, 6.4, 6.5 | Items 6, 7 and |
| and 6.7 | 11 | |
| (p) Indemnification | Section 20.4 | Item 6 |
| (q) Owner’s participation/ m |
Source: Item 10 — FINANCING (FDD pages 24–25)
What This Means (2025 FDD)
According to Caring Senior Service's 2025 Franchise Disclosure Document, financing may be available to existing franchisees or employees of a Caring Senior Service business. This financing is limited to a maximum of 50% of the total initial franchise fee that is due to Caring Senior Service. To qualify for this financing, franchisees may need to meet certain minimum standards, such as achieving GreatCare® Master certification.
If Caring Senior Service provides financing, the franchisee will be required to execute a Promissory Note and a related Guaranty of Payment. The security for this financing is the execution of the Guaranty of Payment by each of the franchisee's Owners.
Caring Senior Service does not typically assign or discount notes, contracts, or other instruments to third parties. However, they reserve the right to do so in the future if they determine it is advisable or in their best interest. Except for the specific financing described for existing franchisees or employees, Caring Senior Service does not offer direct or indirect financing and does not guarantee any notes, leases, or obligations of the franchisee.