franchisors who were approved in 2015 or 2016 under the old franchise registry can continue to use the documents that were approved at that time as long as they have made no substantial changes to the control provisions of their franchise agreements. however, for franchisors who were not previously listed on the franchise registry or who will not accept the 2017 standard addendum, there will be another option.
unlike the old process that required franchisors to submit their franchise agreements for review by frandata each year – at a significant cost to franchisors – franchisors who would like to be on the newly created sba franchise directory may register directly with the sba. there is no cost to submit a franchise to the directory. franchisors who are listed in the directory must submit by april 30 an annual franchisor certification (certifying that no terms which would jeopardize sba eligibility have changed) to renew their listing annually.
sba has issued a revised version of the addendum to franchise agreement (sba form 2462) which became effective . a franchisor and franchisee must use this form when a franchisee applies for sba-assisted financing. sba has issued a revised version of the addendum to franchise agreement (sba form 2462) which became effective ., sba negotiated addendum 2020, sba negotiated addendum 2020, sba franchise directory, how to fill out sba form 2462, sba franchise agreement.
this addendum automatically terminates on the earlier to occur of the following: (i) the loan is paid in full; or (ii) sba no longer has any interest in the certification (sba form 2464) is to be used only if the franchisor is listed on the sba franchise directory as using no addendum (when not required) or franchisors that agree to use the sba’s standard addendum to franchise agreement are presumed to satisfy the sba’s affiliation requirements and, sba form 2462 fillable, sba form 2462 pdf, executed franchise agreement, sba form 3501.
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