Daily News: February 14, 2014

GE Capital Provides Financing to Texas Roadhouse Franchisee

GE Capital, Franchise Finance said it has provided Armadillo Ventures, a Texas Roadhouse franchisee, with a $12 million senior credit facility comprised of a $9 million term loan and a $3 million development line of credit. The funds will be used to refinance existing debt and to build and operate a new restaurant location.

Founded in 1997, Armadillo Ventures owns six Texas Roadhouse locations in Maryland and Delaware. GE Capital has had a relationship with Armadillo since 2003. Texas Roadhouse, Inc. is a full-service chain that operates more than 400 restaurants in 48 states and internationally, of which 330 are co-owned and 75 are franchised.

“We greatly appreciate the time and effort that GE Capital takes to continue to build a strong working relationship with us,” said John Altomare, the operating principal of Armadillo Ventures, “and to put together this financing package.”

“Successful operators like Armadillo Ventures have a real entrepreneurial spirit and are always looking for opportunities to build their business,” said Daniel Nunes, a senior vice president with GE Capital, Franchise Finance. “We help them grow with reliable financing, smart digital tools to find new market opportunities, and deep restaurant industry expertise.”