Daily News: November 6, 2012

GE Capital Provides $74MM to Applebee’s Franchisee


GE Capital, Franchise Finance said it provided a $74 million loan to Team Schostak Family Restaurants, an Applebee’s and Burger King franchisee. The financing will be used to fund the acquisition of 65 new Applebee’s units.

“GE Capital, Franchise Finance proved to be a great choice for us,” said Mark Schostak, executive chairman, Team Schostak Family Restaurants. “They continuously strive to ensure our satisfaction, and it resulted in a successful transaction.”

Headquartered in Livonia, MI, Team Schostak Family Restaurants operate 62 Burger King restaurants, 65 Applebee