STRATEGIC PARTNERS
February 14, 2011
GE Capital, Franchise Finance has provided $5.8 million in financing to First Cup LLC, a Dunkin’ Donuts’ franchisee that operates 17 units throughout Arizona.
The facility includes a $4.1 million term loan and a $1.7 million development line of credit, which together will refinance existing debt and provide capital for restaurant expansion.
The funding was provided through GE Capital, Franchise Finance’s bank affiliate, GE Capital Financial Inc.
“This is the beginning of what we hope will be a long relationship with First Cup as they continue to grow in the years ahead,” said Dave Stansbery, vice president, GE Capital, Franchise Finance.
First Cup, founded in 2008 and based in Phoenix, Ariz., is one of three franchise groups responsible for bringing the Dunkin’ Donuts brand to the state.
“This capital from GE will enable us to maintain our aggressive development schedule,” said Bert Hayenga, CEO, First Cup LLC. “We look forward to working with GE Capital again as new opportunities arise.”
