UFood Grill, a Healthy Fast Casual Restaurant Concept, Approved for SBA Franchise Registry
Approved Listing Will Help Expedite SBA Loan Process for UFood Franchisees
BOSTON, MA--(Marketwire - February 14, 2011) - UFood Restaurant Group Inc. (OTCBB: UFFC) announced today that the U.S. Small Business Administration (SBA) has listed its UFood Grill healthy fast casual restaurant concept on its official Franchise Registry. The Franchise Registry is a compilation of franchise systems that have had their franchise agreement reviewed by the SBA, thereby materially expediting the loan approval process for franchise investors and ensuring a consistent eligibility decision.
"Owning a business is part of the American dream, one which I've been fortunate to be a part of," said UFood CEO and veteran franchising expert George Naddaff. "We look forward to partnering with entrepreneurs and veterans on the opportunity to own their own UFood franchise. The SBA approval is an important step forward for our company as we continue to build our dream of giving Americans everywhere access to fresh, healthy fast food."
UFood Grill is committed to offering consumers food that is both delicious and nutritious, with a wide-ranging menu that includes lean burgers, rice bowls, salads, wraps and smoothies. The company currently has eight locations in Boston, Dallas and Cleveland, including airports, urban areas and Parkland Memorial Hospital in Dallas. Among other initiatives, UFood is exploring development on military bases.
The Franchise Registry lists names of franchise systems whose franchisees enjoy the benefits of a streamlined review process for SBA financing. Loan applications for franchises on the Franchise Registry can be reviewed and processed more efficiently and quickly by the SBA and its lenders because the respective franchise agreements do not need to be reviewed in each individual franchisee situation. The list of approved systems is available at www.FranchiseRegistry.com.
Among the SBA's programs is the Patriot Express Pilot Loan Initiative for veterans and members of the military community who want to establish or expand small businesses. The SBA and its resource partners are focusing additional efforts on counseling and training to augment this loan initiative, making it more accessible and easy to use. Eligible military community members include veterans, reservists and National Guard members and their spouses. More information is available at http://www.sba.gov/content/express-programs.
About UFood Restaurant Group, Inc.
Headquartered in Boston, Mass., UFood Restaurant Group, Inc. is a franchisor and operator of fast casual food service restaurants. UFood Grill offers a healthy lifestyle alternative to consumers in the fast casual restaurant space and is positioned to become a leading player in the "better-for-you" quick-serve restaurant category. The Company is led by franchise innovator George Naddaff, who founded Boston Market and led the franchising of several companies including Sylvan Learning Center and VR Business Brokers. Mr. Naddaff has assembled a veteran management team with a successful record in the franchise market. UFood is currently launching a growth plan to franchise nationwide. To learn more, visit www.ufoodgrill.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks, delays, and uncertainties that may cause our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on our sole supplier, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.