Hitachi Capital Business Finance has provided a £50m (€57.88m) credit line for franchise equipment leasing business Franchise Finance.

The fund has been launched this month for Franchise Finance’s existing and prospective franchisees who are looking to develop their franchise businesses or expand into new territories.

Franchise Finance said that finance is available for amounts between £5,000 and £500,000, with repayment periods of up to five years and credit decisions typically conveyed within 48 hours of receipt of a completed application.

Loans, equipment leases and hire purchase options are available to franchisees who are seeking growth or to refresh existing operations.

Franchise Finance business development director, Chris Roberts, said: “This fund promises to transform thousands of Franchise businesses across the UK. All too often we see access to sufficient finance as a barrier to growth, with franchisees unable to fulfil the potential of existing operations or expand into new locations.

“Because this fund is specifically for the Franchise market, such frustrations are set to be a thing of the past for ambitious franchisees with strong business plans. We have a 95% success rate in arranging finance for our clients and we’re now in a position to support many more people to achieve their long-term retail goals.”

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