Cornwell Quality Tools has announced a new program to assist members of the U.S. military seeking to obtain a Cornwell Tools franchise. Beginning January 1, 2017 military veterans that meet the financing requirements for a Cornwell Tools franchise will be eligible for up to $50,000 of Interest free financing to start their business. Cornwell estimates that the interest savings will be between $13,500 and $14,000 over the course of the loan.
In order to qualify for this program the applicant or applicants spouse must have been honorably discharged from the U.S. Military, must meet normal Cornwell Tools new dealer credit criteria, must lease or purchase a new tool truck and must have $15,000 of working capital available after start-up expenses. During the course of the loan, the dealer must maintain a purchase average equal to or exceeding the Cornwell national purchase average, which will be reviewed annually.