Raising Cane's Chicken Fingers Receives $30 Million from GE Capital Solutions, Franchise Finance
Expanding Franchise Plans to Continue Success with New Capital
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--GE Capital Solutions, Franchise Finance and Louisiana-based Raising Cane's Chicken Fingers completed a $29.5 million financing deal including a $26 million term loan and a $3.5 million revolving line of credit. The financing will free up growth and working capital, allowing the business to grow.
"We worked with Raising Cane's to refinance and consolidate their existing debt, significantly increasing their cash flow, and helping them achieve their growth objectives," says Paul Cantieri, vice president, GE Capital Solutions, Franchise Finance. "It's important to maintain an open line of communication to make sure their needs are met, allowing them to concentrate on their business instead of the financing."
GE Capital Solutions, Franchise Finance, brings years of in-depth industry experience to any financing deal they conduct, allowing for a focused deal with less stress on the client.
"We've enjoyed a strong and successful relationship with GE Capital Solutions, Franchise Finance since 2003, and are a happy return customer," says Craig Silvey, chief financial officer, Raising Cane's. "They helped us save money and time by increasing our cash flow while still allowing us to run our business on our terms."
Raising Cane's is a franchise concept focused on consistently serving high quality meals with fast food speed and convenience. Their commitment to their product makes them a popular and growing restaurant franchise. Based in Baton Rouge, La., they have expanded to include franchises in Mississippi, Texas, Colorado, Georgia, Ohio, Oklahoma, Nevada, Alabama, Virginia, Kentucky, Minnesota, and Nebraska.
GE Capital Solutions, Franchise Finance is a leading lender serving customers in the restaurant, hospitality, and branded beverage 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 $13 billion in served assets, we serve more than 5,000 customers and more than 22,000 property locations, primarily in the restaurant, hospitality and branded beverage 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 $100 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.