Benetrends Continues to Drive Franchise Development through Proprietary $100 Million Fund
McAlister's® Deli Secures $15 Million in Initial Funding to Expand across U.S.
July 24, 2014 // Franchising.com // NORTH WALES, Pa. - Benetrends, the trusted leader in franchise funding, announced today McAlister's Deli has secured funding through its $100 million franchise financing program, which launched in January. McAlister's, a leading fast casual restaurant, will receive $15 million in funding to drive its expansion across the U.S.
"This year, we've helped franchisors secure $35 million to grow their presence in new and existing markets and we are thrilled to partner with McAlister's, a rapidly expanding fast casual concept," said Rocco Fiorentino, president & CEO, Benetrends, Inc. "According to the International Franchise Association, franchise businesses are projected to grow faster than the rest of the economy in 2014. Benetrends is committed to supporting the growth and success of franchises by providing access to capital, as well as a full suite of small business funding solutions."
Benetrends' $100 million fund was created to help International Franchise Association franchisor members provide qualified candidates with direct access to capital for new store development. McAlister's is the third franchisor selected by Benetrends to participate in the new fund. Earlier this year, Hand & Stone and Sport Clips Haircuts each received $10 million in initial capital to assist with its franchise growth.
"McAlister's continues to be recognized as a top fast casual concept with high-quality food and excellent service, and we consistently experience strong results that are driving franchise development across the country," said McAlister's Chief Development Officer Jeff Sturgis. "Coupled with the success we've seen this year, the $15 million in financing from Benetrends will provide immense support for new and existing franchisees to grow their businesses."
Franchisors and franchisees selected to participate in the program benefit from:
- Direct access to capital
- Simplified qualification process
- Dedicated loan officer from application to closing
- Loan proposals within 48 hours of receiving initial application
- Loan commitments within 10 business days of receiving loan package
- Consistent communication with lender and single point of contact
- Experienced PLP SBA lender
Benetrends, recently named a 2014 Future 50 winner by Philadelphia SmartCEO, offers a full suite of funding options to help entrepreneurs secure the capital needed for their small business or franchise. The company originated the 401(k)/IRA tax-deferred and penalty-free rollover process more than 30 years ago and has created more than 85,000 jobs with $4 billion in retirement assets invested in America's small businesses. Additionally, Benetrends features a wide range of loan options covering every type of business need, including SBA loans, equipment leasing, merchant cash advances, securities-backed lines of credit, and more.
Benetrends is the authority in franchise and small business funding, and is acclaimed for its Rainmaker Plan that enables entrepreneurs to use their qualified retirement plan to purchase or recapitalize a business or franchise, tax deferred and penalty free. Benetrends originated 401(k)/IRA rollover funding helping over 10,000 entrepreneurs in the last 30 years. Benetrends provides a comprehensive suite of small business solutions including SBA Loans, Securities Backed Lines of Credit, Equipment Leasing, Commercial Insurance, Individual and Group Healthcare, Payroll Services and more. To learn more about Benetrends, please visit www.benetrends.com.
Founded in 1989, McAlister's® Deli is a fast casual restaurant chain known for its sandwiches, spuds, soups, salads, desserts and McAlister's Famous Sweet Tea™. In addition to dine-in and take-out service, McAlister's also offers catering with a selection of sandwich trays, box lunches, desserts, a hot spud bar and more. With numerous industry accolades, the McAlister's brand has more than 325 restaurants in 24 states. The company has corporate offices in both Alpharetta, Ga., and Ridgeland, Miss. For more information, visit www.mcalistersdeli.com.
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