Long John Silver's, Popular Seafood Restaurant Chain, Qualifies for SBA Registry
Long John Silver's (LJS) received approval from United States Small Business Administration (SBA) for listing on the SBA Franchise Registry. According to LJS franchise development experts, the action will help expedite the process for new and existing LJS franchisees to obtain loans to start or expand their businesses with the famous seafood restaurant brand.
The Franchise Registry, operated by Fran-Data in partnership with SBA, is an online national registry of franchise systems whose new and existing franchisees receive streamlined loan processing. Fewer than 30 percent of all franchisee systems qualify to be listed on the Registry. Applicants must submit their franchise contracts to ensure compliance with strict SBA criteria.
'It's no secret that the current economy and credit environment has suppressed franchise systems from meeting growth plans,' explained Ben Butler, LJS president. 'We want to give our franchisees every advantage to secure financing for a Long John Silver's restaurant. We believe approval on the SBA Registry is a major step in that effort.'
According to Butler, LJS has maintained a loyal and growing customer base. The brand's rich history began in 1969 with traditional batter-dipped recipes for seafood, chicken and shrimp. In 2008, LJS expanded its menu to include the Freshside Grille, a line of non-fried seafood items, and most recently became the first national quick service restaurant chain to serve the latest food trend, Baja Fish Tacos.
In 2008, LJS introduced a new restaurant design that was developed by a team of franchisees, a partnership that significantly reduced costs.
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