SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Aug. 30, 2006--A regional Tex-Mex chain recently saved both time and money refinancing their restaurants. GE Capital Solutions, Franchise Finance provided $19.5 million in funding to Tyler, Texas-based Posados Mexican Cafe to consolidate their loans and allow for expansion.
"We chose to work with GE Capital Solutions, Franchise Finance because of their flexibility and turnaround time," says Scott Nordon, chief operating officer, Posados Mexican Cafe. "Most lenders take months to complete a deal, but GE Capital Solutions, Franchise Finance was able to complete the deal on time."
The funding allows Posados Mexican Cafe to grow throughout Texas and Louisiana. The refinancing involved nine locations and they plan to open an additional one or two locations per year for the next five years.
"We are committed to helping clients realize their vision," says Jeff Piccinelli, vice president, GE Capital Solutions, Franchise Finance. "It's our goal to help Posados Mexican Cafe build their capital by using the resources they already have. By refinancing their existing debt, they are better able to reach their goals without sacrificing their dreams."
Posados Mexican Cafe offers authentic, high-quality Tex-Mex food in a casual, inviting environment. It draws inspiration from the spicy flavors south of the border and offers an extensive menu.
GE Capital Solutions, Franchise Finance is a leading lender with more than 20 years of experience in the restaurant industry. It provides financing for acquisitions, refinancing, new construction, and reimaging.
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 20 years of experience and $11 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
GE Capital Solutions, Franchise Finance
Christine Roe, 480-563-6260
[email protected]
or
Arment Dietrich
Gini Dietrich, 312-787-7249
[email protected]
Stephen White