GE Capital, Franchise Finance has announced it is providing $9 million in financing for D. G. Smith Enterprises Inc., a Taco Bell franchisee based in Sacramento, Calif. The proceeds will be used to refinance existing debt, fund a store acquisition and support remodeling at select locations. Financing was provided through the GE Capital Franchise Finance bank affiliate, GE Capital Financial Inc.
"We're thrilled that our broad product suite enabled us to meet all of D. G. Smith's needs, and we look forward to continuing our relationship to help them achieve their business goals," said Allen Johnson, vice president of GE Capital, in a news release.
With this acquisition, D. G. Smith Enterprises now owns and operates 16 Taco Bell units in the Sacramento area.
"We've had our eye on acquiring this unit for a while," said Dave Smith, owner and founder of D. G. Smith Enterprises Inc. "GE Capital's industry reputation and our trust in their team's ability to get the job done made it an easy decision to choose GE. We felt comfortable with them from the start, and they closed the deal in a short amount of time, exceeding our expectations."
