Funding allows for new store developments and refinancing of existing debt
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–GE Capital, Franchise Finance a DDIFO Sponsor, 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 capital from GE will enable us to maintain our aggressive development schedule. 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.”