United Capital Refinances Debt for 33-Store Denny’s Operator
United Capital Business Lending said it provided $7.7 million in financing to Denny’s owner, MDC Restaurants. United Capital refinanced 33 existing locations in three states for this CA-based franchisee and will also provide funds to build out and equip a new Denny’s restaurant.
United Capital said it has increased to $80 million its 2012 funding commitment to qualified Denny’s franchisees. United Capital previously allocated $40 million to Denny’s operators, but increased the amount in response to Denny’s franchisee loan demand and the health of United Capital’s existing Denny’s loan portfolio.
“The United Capital team has financed Denny’s restaurant owners over the years and, even in today’s economy, Denny’s franchisees have demonstrated consistent operating performance trends,” says Lex Lane, vice president and business development officer at United Capital.