PRZOOM - /newswire/ -
Scottsdale, AZ, United States, 2014/02/13 - GE Capital, Franchise Finance has provided Armadillo Ventures, LLC, a Texas Roadhouse franchisee, with a $12 million senior credit facility comprised of a $9 million term loan and a $3 million development line of credit - GEFranchiseFinance.com. NYSE: GE
The funds will be used to refinance existing debt and to build and operate a new restaurant location.
Founded in 1997, Armadillo Ventures owns six Texas Roadhouse locations in Maryland and Delaware. GE Capital has had a relationship with Armadillo since 2003. Texas Roadhouse, Inc. is a full-service chain that operates more than 400 restaurants in 48 states and internationally, of which 330 are co-owned and 75 are franchised.
“We greatly appreciate the time and effort that GE Capital takes to continue to build a strong working relationship with us,” said John Altomare, the operating principal of Armadillo Ventures,“and to put together this financing package.”
“Successful operators like Armadillo Ventures have a real entrepreneurial spirit and are always looking for opportunities to build their business,” said Daniel Nunes, a senior vice president with GE Capital, Franchise Finance. “We help them grow with reliable financing, smart digital tools to find new market opportunities, and deep restaurant industry expertise.”
About GE Capital, Franchise Finance
GE Capital, Franchise Finance (gefranchisefinance.com) is a leading lender for the U.S. franchise finance market via direct sales and portfolio acquisitions. With more than 30 years of experience and over $7 billion in served assets, it provides financing to more than 2,000 customers and 14,000 properties. The business 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.
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.