Sterling National Bank‘s franchise finance group provided senior secured credit facilities totaling $3.15 million to 313 Investments, a franchisee of Jersey Mike’s, which will use the credit facilities to refinance existing debt and for the creation of three new locations.
Founded in 2015, 313 Investments owns and operates 14 Jersey Mike’s locations in Georgia. The Jersey Mike’s brand, founded in 1956, is a nationwide submarine sandwich brand with more than 2,000 locations.
Lindy Baldwin, a managing director in Sterling National Bank’s New York office, originated this transaction.
