Daily News: December 19, 2014

GE Capital Provides YouFit $45MM Facility

GE Capital announced it is providing a $45 million credit facility to YouFit. The facility will be used to support the company’s future growth plans and for general working capital needs.

“As we expand into new markets and support our existing locations, we needed a lender who could provide us with both financing and expertise,” said Rick Berks, founder and CEO of YouFit. “GE Capital offers us both, which will help us realize our growth plans.”

“Our financial solution will help YouFit with their short- and long-term business goals,” said Bob McCarrick, chief commercial officer—lending at GE Capital, Corporate Finance. “Additionally, we are excited to provide access to insight and expertise from the greater GE network to the YouFit team, which we feel will help their company reach the next level of success.”

Deerfield Beach, FL-headquartered YouFit is a fitness club chain that provides customers with budget-friendly, month-to-month membership options.