Restaurant Chain Five Guys Receives Cash Infusion for Growth
GE Capital, Franchise Finance doubles credit facility to Five Guys Burgers and Fries, providing growth capital for one of America's fastest growing restaurant chains.
-- Chain Leader, 11/5/2009 8:09:00 AM
PRESS RELEASE: SCOTTSDALE, Ariz.--(BUSINESS WIRE)--GE Capital, Franchise Finance recently closed a $30MM loan to Five Guys Holdings, Inc., franchisor of Five Guys Burgers and Fries, doubling the size of the credit facility. The new facility is made up of a $5.25MM revolving line of credit and a $24.75MM term loan. Funding was provided through GE Capital, Franchise Finance's bank affiliate, GE Capital Financial, Inc.
"We chose to continue to work with GE Capital because they are in the best position to meet our future growth needs," says Peter Hanson, CFO of Five Guys. "Their longstanding experience in our industry helps us see the opportunity for a strong relationship in the future."
Five Guys is a rapidly growing fast casual restaurant chain that started in 1986, in Arlington, Va. With approximately 500 units in 36 states throughout the U.S., the chain sells mainly hamburgers, hot dogs and french fries.
"It's a great opportunity to work with a restaurant franchise such as Five Guys," says Scott Tocci, vice president of GE Capital, Franchise Finance. "With their unique and creative business model, we're thrilled to be aligned with their growth."
This is a continued relationship between GE Capital and Five Guys.
"We're excited Five Guys chose GE Capital as their preferred lender," says Darren Kowalske, president of GE Capital, Franchise Finance. "It is our business to help companies grow and succeed. We look forward to continue working with them."
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 over 30 years of experience and $15 billion in served assets, we serve over 5,000 customers and over 22,000 property locations. We provide financing for all your business needs. More information is available at www.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. Visit www.gecapital.com. GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. Visit the company's Web site at www.ge.com.
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