Element Financial (formerly CoActiv) will provide Burger King franchisees with new financing options for the brand's Next Generation Kitchen equipment purchases and installations.

According to a news release, the new equipment is being installed to increase productivity, reduce waste and improve food quality. As part of the program, Element is prequalifying its existing BK franchisee customer base.

For both new and existing customers, applications are being processed from start to finish via Element's online portal.

"We anticipate the NGK project will be a great initiative that will result in significant benefits for the system at large, and we are excited to be a part of it," Steve Grosso, president and COO of Element Financial, said in the release.

Last week, Burger King also named LEAF Commercial Capital as a preferred financing partner in support of the new equipment rollout.

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