Refinancing Package Enables FHG Enterprises to Grow Business
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--In order to refinance 10 Checkers Drive-In locations, FHG Enterprises borrowed $10 million from GE Capital Solutions, Franchise Finance.
The refinancing, slated for restaurants in New York, includes more than $500,000 for new construction. FHG Enterprises president and founder, Joe Gatas, refinanced six restaurants in January and wanted to continue his relationship with the lender in order to focus on growth of development of their core business.
"The refinancing helps us grow our stores and enhance our portfolio," says Gatas. "We knew, working with GE Capital Solutions, Franchise Finance, the loan would be closed on time and documented correctly."
FHG Enterprises is a franchise dedicated to serving their customers to the best of their ability as well as caring about their team members and the communities in which they live.
"We have a great working relationship with FHG Enterprises," says Karen Hamilton, vice president, GE Capital Solutions, Franchise Finance. "We strive to build lasting customer relationships and FHG Enterprises is the epitome in what we look for in restaurant experience."
FHG Enterprises, Inc. was founded by Joe Gatas in June 2000 in Berlin, NJ and is a business passionate about achieving the highest level of excellence in the QSR industry. The executive team excels in the QSR industry showing their expertise by helping build a $60 million corporation and possessing more than 40 years combined experience.
GE Capital Solutions, Franchise Finance is a leading lender serving customers in the restaurant, hospitality, branded beverage, automotive after-market, and power sports industries. It provides financing to help franchisees and franchisors grow, compete, and prosper. It offers access to capital with a diverse array of flexible financing options, including funds for purchasing real estate or equipment, new construction or remodels, acquisitions, or refinancing.
About GE Capital Solutions, Franchise Finance
GE Capital Solutions, 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 6,000 customers and more than 20,000 property locations, primarily in the restaurant, hospitality, branded beverage, power sports and automotive after-market industries. We offer customers access to capital with a menu of products featuring flexible structuring, including financing for acquisitions, refinancing, construction of new units and remodels for single- and multi-unit operators/chains. More information is available at www.gefranchisefinance.com or by calling toll-free 866-GET-GEFF (438-4333).
GE Capital Solutions provides leasing, lending, and capital investment products and services to help business customers grow. It has more than $90 billion in assets, serves more than a million clients around the world, and is headquartered in Danbury, Connecticut, USA. For more on GE Capital Solutions, go to www.ge.com/capitalsolutions.
GE (NYSE: GE) is Imagination at Work --- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
Contacts
Arment Dietrich, Inc.
Gini Dietrich, 312-787-7249
[email protected]
or
GE Capital Solutions, Franchise Finance
Christine Roe, 480-563-6260
[email protected]
Stephen White