Original ChopShop, a fast-casual neighborhood eatery founded in Scottsdale, AZ, obtained a senior credit facility from BBVA Compass to support ongoing expansion of new restaurants. The funding package will allow the company, which currently has eight locations, to open another eight to 10 new restaurants by the end of 2019.
Expansion will primarily focus on the existing markets of Phoenix and Dallas, with the potential for a new market in late 2019.
“BBVA Compass has been an exceptional partner through this process,” said Jason Morgan, CEO of Original ChopShop. “Our strong relationship with them is a powerful asset as we continue our growth trajectory.”
Original ChopShop has opened three new restaurants this year, with two in the Phoenix area in North Scottsdale and Arcadia, and its first in the Dallas area in Las Colinas. The company plans to open three more locations in the Dallas area by end of year.
Wyrick Robbins Yates & Ponton provided legal counsel to Original ChopShop.
