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GE Capital Finances Expansion of Blast 825° - New Pizza Concept of Milano Restaurants - GE Capital’s Franchise Finance (GEFF) business announced that it has provided a new $7.6 million term loan and $2.0 million revolving credit facility to Milano Restaurants International Corp - GEFranchiseFinance.com
GE Capital Finances Expansion of Blast 825° - New Pizza Concept of Milano Restaurants

 

PRZOOM - /newswire/ - Scottsdale, AZ, United States, 2015/01/15 - GE Capital’s Franchise Finance (GEFF) business announced that it has provided a new $7.6 million term loan and $2.0 million revolving credit facility to Milano Restaurants International Corp - GEFranchiseFinance.com. NYSE: GE

   
 
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The funds will be used primarily to develop its new fast-casual pizza concept, Blast 825°.

Milano’s first Blast 825° unit opened in 2013. It currently has four locations open and two more in development in California. The concept features a new fast-fired pizza format that allows customers to build personal 11” pizzas, choosing from 40 toppings, four sauces and three types of hand-stretched dough. The pizza is then cooked quickly in an 825° oven.

Based in Fresno, CA, Milano’s is a family business that owns, operates and franchises seven concepts, including Blast 825°, primarily in California’s San Joaquin Valley. Its largest concept is Me-n-Ed’s Pizzeria. Founded in 1958, it has 33 company-owned units and 20 franchised units.

GE Capital has had a relationship with Milano’s since 2005.

“As we prepare to expand our new Blast 825° concept, we decided to consolidate our financing with GE Capital,” said Marta Gray, CFO of Milano’s. “They know the challenges of being an owner-operator and they understand our industry and our region. It’s a pleasure to do business with a company that has such deep expertise in the restaurant space.”

“Over its 50+ year operating history, Milano’s has shown that it knows how to build a loyal customer base and successfully compete with nationally known brands,” said Bill Kraus, a senior managing director with GEFF. “Although pizza is a highly competitive segment, we believe the management team is well-equipped to expand the Blast 825° concept.”

About GE Capital, Franchise Finance
With more than 30 years of experience and about $6 billion in assets, GE Capital, Franchise Finance (gefranchisefinance.com) is a leading lender for the U.S. franchise finance market via direct sales and portfolio acquisitions. It specializes in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Its team of industry experts helps them realize their individualized growth plans. GE Capital, Franchise Finance customers also receive access to its proprietary industry research and cutting-edge digital tools. For more information, visit or follow company news via Twitter.

GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services.

GE (ge.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.

 
 
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GE Capital Finances Expansion of Blast 825° - New Pizza Concept of Milano Restaurants

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Blast 825° | Milano Restaurants
Contact: Lisa Tibbitts - GE Capital Americas 
203-956-4582 / 203-803-6142 (mobile) lisa.tibbitts[.]ge.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

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