PRZOOM - /newswire/ -
Scottsdale, AZ, United States, 2012/03/20 - Funds acquisition, store development and refinancing - GEFranchiseFinance.com. NYSE: GE
GE Capital, Franchise Finance 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 Inc.
“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.
Founded in Milford, Connecticut in 1965, SUBWAY now is the number one restaurant chain in total restaurant count with more locations than any other chain in the quick service restaurant industry.
About GE Capital, Franchise Finance
GE Capital, Franchise Finance (gefranchisefinance.com) is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $10 billion in served assets, we serve over 3,000 customers and over 18,000 property locations. We specialize in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Our team of industry experts will work with you to help develop your own growth plan with access to our proprietary industry research and customized tools.
Molli Megasko, Arment Dietrich, Inc.
P: (312) 787-7249 - E: mmegasko[.]armentdietrich.com.