Funds revolving line of credit and refinancing
SCOTTSDALE, Ariz.--21 August 2012-- GE Capital, Franchise Finance recently provided a $45 million senior secured credit facility to Raising Cane's Chicken Fingers®, a Baton Rouge, La.-based restaurant chain. The facility refinances the company's existing term loan and provides a revolving line of credit. A portion of the funding was provided through GE Capital bank affiliate, GE Capital Bank.
"We've been working with GE since 2003," says Brad Sanders, chief business officer, fry cook, and cashier, Raising Cane's. "Because of our relationship, they were able to create a more flexible deal structure which really set them apart."
Todd Graves, the founder of Raising Cane's, having received a C on the business plan in college, worked several jobs to save enough money to open the first restaurant in 1996 near the LSU campus
"Raising Cane's has a great track record of success," says Ryan Ruud, vice president, GE Capital, Franchise Finance. "We're pleased to have supported the company during a nine year relationship, and are excited to put a new facility in place to support their next phase of growth."
Raising Cane's was founded in 1996 and serves fresh, never frozen, chicken finger meals, including Texas toast, crinkle-cut fries, cole slaw, and Cane's sauce, through 131 restaurants in 16 states.
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 $10 billion in served assets, we serve over 3,000 customers and over 18,000 property locations. We specialize in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Our team of industry experts will work with you to help develop your own growth plan with access to our proprietary industry research and customized tools. More information is available at www.gefranchisefinance.com.
Christine Roe
GE Capital Solutions
[email protected]
1-480-563-6260
Yvette Pistorio
Arment Dietrich Inc.
[email protected]
(312)-787-7249