Daily News: March 20, 2012

GE Capital Provides $4.5 Million to SUBWAY Franchisee

GE Capital, Franchise Finance said it provided $4.5 million to KK Group of Companies, a SUBWAY franchisee. The financing includes a $3.5 million term loan to refinance existing debt and a $1 million development line of credit to fund the acquisition of one new store and for the remodeling and reimaging of four existing units. Funding was provided through GE Capital’s bank affiliate, GE Capital Financial.

“We chose GE Capital for its industry knowledge and flexibility,” said Bharat Aggarwal, owner, KK Group of Companies. “They were continuously striving to ensure our satisfaction, and it resulted in a successful transaction.”

KK Group of Companies is based in Houston, Texas and operates 50 SUBWAY restaurants throughout Texas and New York.

“Our industry knowledge helped us to provide KK Group of Companies with not only a competitive product but also a structure that enabled them to achieve their goals,” said Marques Bayne, vice president, GE Capital, Franchise Finance.