Daily News: October 24, 2014

GE Capital Finances $5.6MM Corner Bakery Café Concept

GE Capital Franchise Finance announced its first financing for the Corner Bakery Café concept. That comes in the form of a $5.6 million loan to MX Restaurants and Bakeries.

McAllen, TX-based MX Restaurants already operates seven Corner Bakery restaurants in the Houston and South Texas markets. It will use these funds to pay off short-term debt related to a recent acquisition and to develop four additional units.

“Because we’re still relatively new to the U.S. market, it was helpful to work with a lender that has a lot of experience in the restaurant industry,” said Castillon. “We’re glad to develop this relationship and we know it will benefit us in the future as we continue to grow.”
“Corner Bakery has distinguished itself with a strong focus on fresh ingredients — something Bernardo instinctively understands,” said Trey Brown, GEFF’s sales leader. “We’re pleased to help Corner Bakery expand its footprint in the U.S. and we look forward to working with additional operators.”