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Sonic reassures franchisees in light of GE lending tightening
September 28, 2008
OKLAHOMA CITY — Sonic Corp. has released a statement regarding media reports concerning GE Capital's reported pullback in financing for franchisees.
Sonic clarified that during the past year GE Capital provided less than 10 percent of the lending to its franchisees. GE is just one of many lenders who finance Sonic franchisees and, in fact, many franchisees maintain access to other diversified sources of financing. Furthermore, Sonic has not received any notification from GE Capital, either directly or indirectly, that it will stop financing new loans to Sonic franchisees.
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