Grease Monkey International is working with ApplePie Capital to offer new and existing franchisees access to up to $20 million in debt capital to drive continued expansion across the U.S.
ApplePie Capital, the first and only online lender dedicated to franchising, recently surpassed $300 million in loans originated to franchise entrepreneurs opening or expanding their businesses.
ApplePie Capital 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.
Fifth Third can now purchase loans originated through ApplePie Capital’s franchise loan marketplace and joined ApplePie Capital’s SBA lender network.
ApplePie Capital appointed franchise industry veteran Ronald Feldman as chief development officer. In addition, ApplePie announced the acquisition of Funding Solutions.
Owning a franchise offers an entrepreneur the opportunity to run a business with the safety net of an established brand to provide a familiar product and a playbook to succeed. But coming up with the initial funding to cover the start-up costs can be a challenge. Denise Thomas started ApplePie Capital in 2014 to help potential franchisees. Thomas explains how she developed the concept and shares her thoughts on being a woman in a male-dominated industry.
Online lender ApplePie Capital entered into a $180 million franchise loan purchase agreement with TowerBrook Capital. The company also added Tim Morris, former CRO of GE Capital Franchise Finance, to its management team.
Geoff Thompson was named general counsel of ApplePie Capital. Thompson was previously with Simpson Thacher & Bartlett.