What minimum down payment does Cool Binz require for financing?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
We will finance up to fifty percent (50%) of the Initial Franchise Fee, Initial Equipment Package (excluding the trucks), and the Initial Promotional Package if you meet our qualifications at a nine percent (9%) interest rate and for a period of up to thirty-six (36) months. We require at least fifty percent (50%) down payment of the stated fees. The estimated loan payment will vary based upon how much you choose to finance and the length of the repayment schedule. See Item 10 for additional details.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 27–31)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, if a franchisee meets the qualifications for financing, Cool Binz will finance up to 50% of the Initial Franchise Fee, Initial Equipment Package (excluding the trucks), and the Initial Promotional Package. Cool Binz requires a minimum down payment of 50% of these stated fees. The interest rate for the financing is 9%, and the repayment period can be up to 36 months.
This means that a prospective Cool Binz franchisee needs to have at least half of the funds required for the initial franchise fee, equipment package (excluding trucks), and initial promotional package readily available as a down payment to qualify for Cool Binz's financing program. The loan payment amount will vary depending on the amount financed and the length of the repayment schedule chosen by the franchisee.
For example, if the initial franchise fee is $59,900, the initial equipment package is $579,995, and the initial promotional package is $7,500, the total of these fees is $647,395. To qualify for financing from Cool Binz, a franchisee would need to make a down payment of at least 50% of this amount, which is $323,697.50. The remaining amount could be financed through Cool Binz, subject to meeting their qualifications and the terms outlined in the FDD.