GE Capital, Franchise Finance Provides $2.15 Million to Dominos® Pizza Franchisee, Pizza Project, LLC
SCOTTSDALE, Ariz.--24 August 2011-- GE Capital, Franchise Finance recently provided $2.15 million to Pizza Project, LLC, a Dominos® Pizza franchisee. The facility included a $1.45 million term loan for the acquisition of existing Dominos units as well as a $700 thousand development line of credit for the development of additional stores throughout the San Francisco, CA area.
We are already a GE Capital customer, under another restaurant brand, says Jim Taggart, principal, Pizza Project, LLC. After our success with that brand, we were looking to diversify our portfolio. The Brand Management team at GE Capital introduced us to the Dominos family, and we could not be happier.
The current funds will help launch Pizza Projects plan to become a 40+ unit Dominos Pizza franchisee across northern California.
GE Capitals Brand Management team has relationships with a good cross-section of franchise brands. These relationships give us insight into each brands development plans and strategy, said Dave Stansbery, vice president, GE Capital, Franchise Finance. Our access to brands and to capital made us a perfect match for Pizza Project.
Dominos® Pizza was founded in 1960 and now has more than 9,000 stores in more than 60 countries around the world, making them the second-largest pizza chain in the United States. In January of 2011, Forbes named Dominos Pizza as "The Top Franchise for the Money.
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 $12 billion in served assets, we serve over 5,000 customers and over 22,000 property locations. We specialize in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Our team of industry experts will work with you to help develop growth plans with access to our proprietary industry research and customized tools. More information is available at www.gefranchisefinance.com or by calling 866-GET-GEFF (438-4333).