GE Capital lends $13.2 million to Hardee’s franchisee

GE Capital lends $13.2 million to Hardee’s franchisee
Tags: Financing and capital improvements, Franchising & Growth, Operations Management
March 7, 2011

GE Capital, Franchise Finance provided $13.2 million in financing to Ponder Enterprises Inc., one of Hardee’s largest franchise operators.

The credit facility, consisting of an $11.2 million term loan and a $2 million development line of credit, is being used to refinance existing debt and fund capital expenditures.

“We are extremely pleased to have Ponder Enterprises as a new customer,” said Mike Record, vice president, GE Capital, Franchise Finance. “We are especially excited to be a part of Ponder Enterprises’ future growth plans as they acquire and build new stores.”

Ponder Enterprises, based in Donalsonville, Ga., currently operates 24 Hardee’s units in Georgia, Florida and Alabama.