NewswireTODAY - /newswire/ -
Scottsdale, AZ, United States, 2015/03/12 - GE Capital’s Franchise Finance business announced today that it has provided an $11 million term loan and $2 million development line of credit to RJC, LLC, a restaurant operator, to support its recent acquisition of 26 Denny’s restaurants. NYSE: GE
The restaurants are located in the Southeastern U.S.; 14 are in North Carolina, five in South Carolina, three in Alabama, and two each in Tennessee and Georgia. Eight of the restaurants are at Pilot Flying J truck stops. RJC is based in Pleasanton, CA.
“When the opportunity to acquire these units came up, it was a natural decision to reach out to GE Capital,” said RJC operating partner Pravesh Chopra. “I was confident they could help us close this transaction.”
“We’re pleased to be able to help RJC with this significant acquisition,” said Trey Brown, GEFF’s sales leader,“and we’re ready to help with their future expansion plans.”
This transaction was originated by Todd Cortell, managing director of strategic accounts at GE Capital, Franchise Finance.
About GE Capital, Franchise Finance (gefranchisefinance.com) With more than 30 years of experience and $6 billion in assets, GE Capital, Franchise Finance is a leading lender to the U.S. franchise finance market. It specializes in financing mid-market, multi-unit operators 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 customers around the globe an array of financial products, services and insights to help them grow their businesses.
GE (ge.com) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world.