GE Capital, Franchise Finance provides $5.8 million in financing to Dunkin’ Donuts franchisee, First Cup, LLC. The facility includes a $4.1 million term loan and a $1.7 million development line of credit, which together will refinance existing debt and provide capital for restaurant expansion. Funding was provided through GE Capital, Franchise Finance’s bank affiliate, GE Capital Financial Inc.
“This is the beginning of what we hope will be a long relationship with First Cup as they continue to grow in the years ahead, ” said Dave Stansbery, vice president, GE Capital, Franchise Finance.
First Cup, based in Phoenix, Arizona, is one of three franchise groups responsible for bringing the Dunkin’ Donuts brand to Arizona. Founded in 2008, through this transaction, First Cup now operates 17 Dunkin’ Donuts units in the state.
“This capital from GE will enable us to maintain our aggressive development schedule, ” said Bert Hayenga, CEO, First Cup, LLC. “We look forward to working with GE Capital again as new opportunities arise.”
Dunkin’ Donuts is a leader in coffee as well as franchising. According to Entrepreneur magazine's Best Franchising Businesses of 2011, Dunkin’ Donuts was ranked number 15 in the Franchise 500®, recognized at number 13 on the list of America’s top global franchises, and named the 29th fastest-growing franchise. The company has more than 9,000 units, with nearly 7,000 of those franchised restaurants. Dunkin' Donuts is a subsidiary of Dunkin' Brands, Inc.
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 (ge.com) is a diversified infrastructure, finance and media company that is taking on the world’s toughest challenges. GE operates in more than 100 countries and employs about 300,000 people worldwide.
Molli Megasko, Arment Dietrich, Inc.
P: (312) 787-7249 / E: mmegasko[.]armentdietrich.com.