GE Capital, Franchise Finance provided $19.35 million in financing to Tappan Street Restaurant Group, Inc., owners of Taco Mac, based in Atlanta. The financing included a $13.35 million term loan to refinance general operating debt and a $6 million revolver for new-unit development. Funding was provided through GE Capital, Franchise Finance’s bank affiliate, GE Capital Financial, Inc.
“While this is our first deal with Tappan Street,” says Scott Tocci, vice president, GE Capital, Franchise Finance, “our industry experience enabled us to successfully structure a complex loan for them. We look forward to working with Taco Mac as they expand their presence across the southeast.”
There are currently 26 Taco Mac locations in and around the Atlanta metro area and one in Chattanooga, Tennessee.
“This financing allows us to capitalize on our vision to grow the concept beyond the Atlanta metro area,” says Bob Campbell, CEO, Tappan Street Restaurant Group. “We’re excited to develop a strong relationship with GE Capital, Franchise Finance, who has demonstrated that they have the knowledge and experience to help us be successful in this next stage in our growth.”
Taco Mac first opened in Atlanta in 1979. It is a casual dining concept that specializes in its offering of Buffalo-style chicken wings and variety of domestic, craft and imported beers. Restaurants feature up to 40 high-definition, flat panel televisions and hundreds of draft and bottled beers.
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $14 billion in served assets, we serve more than 5,000 customers and more than 22,000 property locations. We provide financing for all your business needs. More information is available at gefranchisefinance.com or by calling 866-GET-GEFF (438-4333).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. GE (ge.com) operates in more than 100 countries and employs about 300,000 people worldwide.
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