CIT Group’s Franchise Finance team, part of CIT’s Business Capital division, closed a $25 million loan to La Palma, CA-based Friendly Franchisees.
Private equity firm NRD Capital announced the closing of its acquisition of Ruby Tuesday by a fund managed by NRD. In conjunction with the acquisition, Ruby Tuesday entered into a new credit facility agented by Goldman Sachs Specialty Lending.
Freedom Boat Club selected Northpoint Commercial Finance as it provider for a new, specially designed install and pay finance program for its franchise network.
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.
GE reached an agreement to sell GE Capital’s Franchise Finance U.S. hotel business to Western Alliance Bank. GE also agreed to sell its Canadian Franchise Finance business to a “different buyer.”
GE Capital’s Franchise Finance business said it has loaned $11 million to Vitaligent for the acquisition of 77 Jamba Juice units, making it the largest franchise in the system.
GE Capital’s Franchise Finance business said it has provided a $30.7 million loan to Serazen to refinance debt and to acquire and re-image 50 Hardde’s units in NC and SC.
GE Capital, Canada, said it has provided an $11 million term loan to AP2 Developments, the owner of the Holiday Inn at the Winnipeg Airport.
Victory Park Capital secured a $51 million facility from GE Capital, Franchise Finance and Citizen’s Bank to refinance existing VPC debt and fund long-term growth initiatives of Giordano’s.
GE Capital, Franchise Finance announced it has loaned $6.5 million to Wright Investment Properties. The funds will be used to refinance a Memphis-based Residence Inn.