Hardee's requires a $1.3M–$2.4M investment — a full QSR build with drive-through. Sister brand to Carl's Jr. under CKE Restaurants. SBA 7(a) is the primary financing vehicle.
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Hardee's is a charbroiled burger and biscuit QSR with over 1,700 U.S. locations concentrated in the South, Midwest, and Mid-Atlantic. Hardee's is owned by CKE Restaurants Holdings — the same parent company as Carl's Jr. The brands share menu DNA (charbroiled burgers, hand-breaded chicken, Made from Scratch biscuits) but operate as distinct regional identities: Hardee's is dominant in Southern and Midwestern markets where Carl's Jr. has little presence. Hardee's scratch biscuit breakfast platform is a significant daypart driver. This guide covers financing mechanics only.
Per the current FDD, total estimated initial investment runs $1.3M–$2.4M depending on unit format (new freestanding build vs. conversion vs. end-cap), geography, and real estate acquisition vs. lease. Lenders evaluate the following when underwriting a Hardee's deal:
Hardee's shares a parent (CKE Restaurants) with Carl's Jr. — lenders familiar with CKE FDD can reference Carl's Jr. AUV benchmarks from FDD Item 19, but should note that Hardee's regional concentration (South/Midwest) means per-unit volumes may differ from Carl's Jr.'s Western markets. The scratch biscuit breakfast daypart adds morning labor cost that should be modeled separately in the DSCR projection. Charbroiler equipment ($50K–$80K estimated) is a discrete capital item — financing it separately via a standalone equipment loan can improve collateral coverage on the leasehold tranche.
The SBA 7(a) loan program is the primary financing vehicle for Hardee's franchise acquisitions. Hardee's is listed on the SBA Franchise Directory under CKE Restaurants, allowing lenders to bypass independent franchise agreement review. Key parameters:
The SBA 504 program applies when a franchisee acquires freestanding real estate as owner-occupied commercial property. Structure: 50% conventional bank loan + 40% SBA 504 debenture (long-term fixed rate) + 10% borrower equity. Southern and Midwestern QSR pad-site costs are generally lower than California — but at $1.5M+ total project costs including land, the 504's fixed-rate debenture still provides meaningful long-term cost reduction versus an all-variable 7(a).
Commercial charbroilers, biscuit ovens (Hardee's scratch biscuit process requires dedicated biscuit-making equipment), commercial fryers, steam tables, refrigeration, drive-through communication systems, and POS equipment are Hardee's primary equipment line items. The biscuit-from-scratch platform adds equipment complexity compared to burger-only QSR. Equipment can be financed separately via loans or leases layered on top of the SBA 7(a). Confirm with CKE Restaurants which approved vendors and specifications apply.
CKE Restaurants (Hardee's) does not operate a direct in-house lending program for franchisees. The company maintains preferred vendor and lender relationships and may provide introductions during the franchisee approval process. CKE's dual-brand structure (Hardee's + Carl's Jr.) means development agreements may offer operators pathways to hold units across both brands in non-overlapping markets — review the current FDD for current program details.
Specific Hardee's financial qualification thresholds are disclosed in the current FDD — review Item 7 with your lender before applying. As a planning benchmark, on a $1.8M total project the SBA equity injection requirement is $180K–$360K from non-borrowed liquid funds. Hardee's Midwestern and Southern markets generally have lower real estate costs than comparably-sized Western U.S. QSR deals, which can bring total project costs toward the lower half of the FDD range.
ClearValue Lending works with franchise operators at every stage — from first-unit acquisition to multi-unit expansion financing. Apply at Find my match. Your file routes to the funding partners in our network best matched to your file. Related: SBA 7(a) loans explained · SBA 504 loan explained.
Yes. Hardee's (CKE Restaurants) is on the SBA Franchise Directory, allowing lenders to skip independent franchise agreement review. SBA 7(a) can finance the portion above your equity injection, up to $5M.
Specific liquid capital requirements are in the FDD. Plan for a 10–20% SBA equity injection plus working capital reserves. At Hardee's $1.3M–$2.4M range, the injection floor is typically $130K–$240K minimum from liquid funds.
Hardee's and Carl's Jr. are sister brands under CKE Restaurants Holdings. They share menu DNA — charbroiled burgers, hand-breaded chicken, scratch biscuits — but operate under different brand names by region. Hardee's is the brand in the South and Midwest; Carl's Jr. is in the Western U.S.
Most SBA lenders require 680+ personal FICO for franchise deals at this investment level. Lenders also want documented QSR management experience and net worth substantially above the loan amount.
Expect 60–90 days from a completed SBA application to funding. SBA Preferred Lenders can issue conditional commitments in 3–4 weeks. Coordinate CKE/Hardee's franchisee approval in parallel to avoid sequencing delays.