Good Times Restaurants, operator of Good Times Burgers & Frozen Custard, received a senior debt revolving line of credit commitment from Cadence Bank for $9 million, subject to completion of definitive loan documents.

Jim Zielke, CFO, said, “We have been in discussions with a few different lenders to be a resource for a senior debt facility that can be expanded as we continue to accelerate our growth in 2017 and 2018. We are thrilled to be working with Cadence Bank, as they have significant experience in restaurant lending and have been very flexible based on our projected capital needs.”

The company reported that annualized sales for five new Bad Daddy’s outlets opened this year are averaging at its $2.5 million annual target, laying the foundation for further acceleration of growth in fiscal 2017.

Good Times Restaurants operates Good Times Burgers & Frozen Custard, a regional chain of quick service restaurants located primarily in Colorado. GTIM owns, operates, franchises and licenses 18 Bad Daddy’s Burger Bar restaurants through its wholly-owned subsidiaries. Bad Daddy’s Burger Bar is a full service, upscale, “small box” restaurant concept.