PORTSMOUTH, N.H. - May 1, 2013 - (BUSINESS WIRE) - When Dairy Queen® franchisees Janet and Robert Wesch needed financing for their Port St. Lucie, Florida location, they found out what many small businesses across the U.S. have already discovered: It’s no cakewalk.
Then they found Direct Capital, a nationwide franchise lender that has a different approach to credit underwriting when it comes to the home of the “Blizzard” and “Orange Julius.” Direct Capital quickly approved them and their financing challenges were solved.
“We are so thankful that Direct Capital was there and willing to work with us. They helped us out when no one else did,” said the Weschs.
What led Direct Capital to say “yes” when all others said “no” is a formula 20 years in the making, and the company is aggressively putting that solution to work in the franchise space, committing more than $300 million in lending this year alone.
“We have been providing financing to franchisees since we started in 1993, so we have an extraordinary amount of data,” said Eric Renaud, Senior Vice President of Portfolio Risk Management for Direct Capital. “We have built unique credit underwriting algorithms for every major franchise concept. So unlike other lenders, we’re looking way past credit scores to make decisions and there’s no single model that fits all.”
Dairy Queen® franchisees, like the Weschs, who have worked with Direct Capital to finance major upgrades, say the lending provided has been an excellent fit for their locations.
Beyond meeting general equipment financing needs, Direct Capital has also brought working capital solutions to Dairy Queen franchisees.
Direct Capital said it’s honored to have the opportunity to work with a leading franchisor like Dairy Queen® and it is passionate about continuing to solve the financing needs of its franchisees.
“Our established track record working with Dairy Queen® and ample lending capacity, makes us uniquely suited to support franchisees throughout their normal investment cycle, from store development projects to remodels, equipment and technology upgrades and working capital,” said Robyn Gault, Vice President of Strategic Accounts at Direct Capital.
Established in 1993, Direct Capital (www.directcapital.com) is a financial technology company that delivers financial solutions for small & medium sized businesses, franchisors, and equipment and technology sellers. The company is headquartered in Portsmouth, N.H. and operates offices in New York, California, and Georgia. You can follow Direct Capital on Twitter at http://twitter.com/DirectCapital or subscribe to its PointBlank blog at http://blog.directcapital.com/.
Direct Capital Corporation
Senior Vice President