CWB Franchise Finance provided a term loan and development line facility to Lone Star Group, a Canadian restaurant brand with locations across Ontario. The funds will be used to assist Lone Star with the build-out of new locations as well as renovation and update of existing units.
“We’re proud to have worked with Lone Star for more than seven years, and excited for this next phase of their growth story,” said Trish Halliwell, account manager at CWB Franchise Finance’s restaurant division. “CWB’s Development Line product enables Lone Star to draw down for multiple projects over a two-year period, with approval and documentation completed upfront. It’s an efficient way to address both their short and long-term CAPEX needs.”
“Lone Star is expanding with new stores, and also updating the brand to convey a modern design at several of our locations,” noted Mark Findlay, Lone Star’s CEO. “This development line creates a simple path for the various projects we have on the radar. CWB’s deep understanding of the restaurant business translates into both products and process that make sense for our industry.”
CWB Franchise Finance, a division of CWB Financial Group, specializes in financing for regional and national restaurants and hotels and is a lender to the Canadian restaurant and hospitality industries. Previously GE Capital Canada’s franchise financing arm, CWB Franchise Finance was acquired by CWB Financial Group in 2016 following a track record of more than 800 clients with upwards of 1,525 property locations over 14 years. To date, more than $3 billion have been invested in the Canadian hotel and restaurant space.
