Ge Capital's Franchise Finance Business Provides $12 Million To Tribox Llc To Acquire Additional Jack In The Box Units
Funds facilitate a 14-unit acquisition in Dallas and Fort Worth
July 22, 2009 // Franchising.com // SCOTTSDALE, Ariz. — GE Capital, Franchise Finance completed a $12 million loan to Tribox LLC for the purchase of 14 Jack in the Box units and to refinance some existing debt. Tribox currently owns and operates seven Jack in the Box franchise units in the Dallas area.
"We're happy to help Tribox grow and expand their reach in Dallas," says Dave Stansbery, vice president, GE Capital, Franchise Finance. "We are committed to helping restaurants grow by offering access to capital and providing flexible financing options."
This is the first financing between GE Capital, Franchise Finance and Tribox. More than 20 years ago, Javed Aslam, a partner at Tribox, began his family's business with only one Jack in the Box unit, and has since grown the family business to seven regional units. Javed and his son, Chris, formed Tribox with a third partner to continue to expand their presence with Jack in the Box in Dallas.
"Our relationship with GE Capital will help us extend our reach within the Jack in the Box franchise and connect with additional customers in Dallas," says Chris Aslam, partner, Tribox LLC. "We're excited to work with GE Capital, Franchise Finance because of their longstanding dedication to the restaurant business and commitment to helping franchisors and franchisees grow and prosper."
Based in San Diego, Jack in the Box Inc., is one of the nation's largest hamburger chains, with more than 2,180 restaurants in 18 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 over 30 years of experience and $15 billion in served assets, we serve over 5,000 customers and over 22,000 property locations. We provide financing for all your business needs. GE Capital offers consumers and businesses around the globe an array of financial products and services. 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.