ApplePie Capital, a nonbank lender that specializes in lending to franchisees, provided debt financing to Tropical Smoothie to enable the company to offer new and existing franchisees access to up to $20 million in debt capital to drive continued expansion across the U.S.
“Tropical Smoothie Cafe is committed to helping our franchisees grow and prosper, and we are excited to launch this program with ApplePie. They are franchising professionals who understand the needs of our franchisees to help foster their growth,” said Charles Watson, chief development officer of Tropical Smoothie Cafe. “ApplePie recognizes our business model and has developed a dedicated lending program to address the financial needs of our franchisees, whether they are looking to open new locations, acquire capital for acquisitions or remodels, or looking for assistance with refinancing. Their decision to allocate $20 million to Tropical Smoothie Cafe franchisees will help us achieve our accelerating expansion efforts in key target markets across the U.S. and reach our goal of 1,000 locations by 2020.”
“ApplePie Capital is thrilled to partner with Tropical Smoothie Cafe to support the growth of the brand more quickly and efficiently,” said Denise Thomas, CEO and co-founder of ApplePie.
Tropical Smoothie Cafe is a fast-casual restaurant chain offering healthier food options with more than 640 locations nationwide.
