Funds Allow for Refinancing and Growth Development
SCOTTSDALE, Ariz.--19 January 2011-- GE Capital, Franchise Finance announced today that it is providing $15.3 million in financing to a large Hardee's® franchisee, Paradigm Investment Group, LLC. The credit facility includes a $10.3 million term loan and a $5 million development line of credit.
"We are pleased to work with Paradigm again and help them with their recapitalization," said Chris Poppe, vice president, GE Capital, Franchise Finance. "We look forward to continuing our relationship and helping them with their future business needs."
Paradigm Investment Group, based in San Diego, California, is one of the largest Hardee's franchise operators. Founded in 1999, Paradigm now operates 88 Hardee's units in four states, including, Alabama, Florida, Mississippi and Tennessee.
"GE Capital has been our lender for the past 10 years, which reflects the value they have brought to the growth of our business," says Brian Kelley, CFO and partner, Paradigm Investment Group, LLC. "We appreciate our long history of working together, and look forward to building on this relationship as we continue to grow."
Established in 1961, Hardee's® operates or franchises more than 1,900 quick-service burger restaurants in 30 U.S. states and nine countries. Hardee's is a wholly-owned subsidiary of CKE Restaurants, Inc.
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $14 billion in served assets, we serve more than 5,000 customers and more than 22,000 property locations. We provide financing for all your business needs. More information is available at www.gefranchisefinance.com or by calling 866-GET-GEFF (438-4333).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) is a diversified infrastructure, finance and media company that is taking on the world's toughest challenges. GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit www.ge.com.
Christine Roe
GE Capital Solutions
[email protected]
1-480-563-6260
Yvette Pistorio
Arment Dietrich Inc.
[email protected]
(312)-787-7249