GE Capital Provides $11.9MM to Wendy’s Franchisee
GE Capital, Franchise Finance said it provided $11.9 million to BalRod Enterprises, a Wendy’s franchisee. The facility is being used to refinance existing debt and to purchase real estate. A portion of the funding was provided through GE Capital’s bank affiliate, GE Capital Financial.
“We have long ties to GE Capital,” explains partners Eddie Rodriguez and Sergio Balsinde, BalRod Enterprises. “Their flexibility along with their industry expertise are key factors in helping us as we continue to grow.”
Based in Hialeah, FL, BalRod Enterprises was established in 1993 and, in conjunction with its affiliates, owns and operates 17 Wendy’s units throughout Miami and Orlando.
“We were able to help BalRod consolidate their existing loans,” explained Mike Mitchell, vice president, GE Capital, Franchise Finance. “We were also able to use our knowledge of their real estate assets to fully fund purchase options on two locations.”