What credit rating must a Management Recruiters franchisee have to be eligible for financing?

According to Management Recruiters's 2024 Franchise Disclosure Document, to be eligible for financing from HQ Financial Corporation, a Management Recruiters franchisee must have a satisfactory credit rating. As part of the loan application process, the franchisee gives Management Recruiters permission to request credit information from organizations such as D&B and TRW.

In addition to having a satisfactory credit rating, the franchisee must have no outstanding obligations to Management Recruiters older than 30 days, except for indebtedness that is in good standing and that may be refinanced. The franchisee must also agree to execute an amendment to their Franchise Agreement extending its term (if necessary) at least to the date on which the loan is scheduled to be repaid in full.

Furthermore, the franchisee must meet Management Recruiters's then-current operating standards and be of better than average qualifications. Meeting these eligibility requirements does not guarantee that Management Recruiters will extend financing, as they reserve the right to approve or deny any requests for credit in their absolute discretion. This means that even if a franchisee meets all the stated criteria, Management Recruiters can still deny the loan application.