GE Capital Lends $6.8MM to Taco Bell Franchisee
GE Capital’s Franchise Finance business said it has provided Guerrieri Management (GMI) with a $6.8 million credit facility. Based in Cape Coral, FL, the company currently operates 12 Taco Bell restaurants in the Tampa-Clearwater area.
Gordon Guerrieri, company president, originally engaged franchise financial advisors MarshallMorgan, who suggested GE Capital. MarshallMorgan later worked with GE Capital to find the best financial structure for the borrower’s future growth and goals. GMI used the bulk of the funds to refinance current debt, including debt related to one newly opened Taco Bell location. Additionally, GE provided GMI with a development line of credit, which will be used to develop or acquire several new sites.
“When I started looking to expand, I was impressed by GE Capital’s understanding of the development process,” said Guerrieri. “That, combined with their creativity and fast execution, gave me what I need to grow my business.”
Although GE Capital has more than 30 years of experience in the restaurant industry, GMI is a new customer, noted Casey Crimmins, a vice president who handles sales on the East Coast for GE Capital, Franchise Finance.
“Gordon exemplifies our typical customer,” he said. “We love to work with experienced entrepreneurs who operate a small number of restaurants but have an appetite to grow.”