GE Capital, Franchise Finance lends $3.5 million to Wendy's franchisee

GE Capital, Franchise Finance lends $3.5 million to Wendy's franchisee
Tags: Financing and capital improvements
March 23, 2010

GE Capital, Franchise Finance recently provided a $3.5 million credit facility to New-Wen Inc., owners and operators of six Wendy's units in Ohio. New-Wen used the proceeds to refinance its existing debt structure in order to help remodel some restaurants and to purchase the underlying land at one of their existing Wendy's locations.

"This facility with New-Wen is part of our long tradition of supporting small and mid-sized restaurant franchise businesses," said Allan Hauptli, vice president at GE Capital, Franchise Finance, in a news release. "We've been New-Wen's exclusive lender for nearly a decade and are pleased to continue this long relationship."