GE Capital, Franchise Finance has handed over $2.15 Million in funding the acquisition and development of a pizza project by Domino’s Pizza Franchisee, Pizza Project, LLC.
Included in the facility is a $1.45 million term loan for the acquisition of existing Domino’s units as well as a $700 thousand development line of credit that will pave the way for new stores throughout the San Francisco, CA area.
Domino’s Pizza Franchisee is already a customer of GE Capital under another restaurant brand.
Jim Taggart, principal, Pizza Project, LLC, said: “After our success with that brand, we were looking to diversify our portfolio. The Brand Management team at GE Capital introduced us to the Domino’s family, and we could not be happier.”
The current funds will help launch Pizza Project’s plan to become a 40+ unit Domino’s Pizza franchisee across northern California.
“GE Capital’s Brand Management team has relationships with a good cross-section of franchise brands. These relationships give us insight into each brand’s development plans and strategy,” said Dave Stansbery, vice president, GE Capital, Franchise Finance.
Domino’s Pizza was founded in 1960. With more than 9,000 stores in more than 60 countries around the world, it has become the second-largest pizza chain in the United States. In January of 2011, Forbes named Domino’s Pizza as “The Top Franchise for the Money.”
GE Capital, Franchise Finance is a lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $12 billion in served assets, it serves over 5,000 customers and over 22,000 property locations.
GE Capital finances mid-market operators with multiple stores in the restaurant and hospitality industries.