Grease Monkey® Secures up to $20 Million in Franchisee Financing through ApplePie Capital to Help Fuel Franchise Growth
April 24, 2019 // Franchising.com // Greenwood Village, Colorado - Grease Monkey International, LLC, part of the FullSpeed Automotive™ family of brands and one of the fastest growing franchise concepts in the country, announced it is working with ApplePie Capital to offer new and existing franchisees access to up to $20 million in debt capital to drive continued expansion across the U.S.
“Grease Monkey is committed to helping our franchisees grow and prosper, and we are excited to launch this program with ApplePie. They are franchising professionals who understand the needs of our franchisees to help foster their growth. Their decision to allocate $20 million to Grease Monkey franchisees will help us achieve our accelerating expansion efforts in key target markets across the U.S.” said Ralph Yarusso, Chief Development Officer, Grease Monkey.
“As a multi-brand international franchisor, we chose ApplePie Capital as a preferred lender because they took the time to learn about our business model and our core values. Their knowledge of the franchise industry enables them to offer a multitude of loan options to our franchisees. ApplePie’s ability to customize loan programs for a first-time center owner or a multi-center operator, brings a unique component to the relationship that can be challenging to find with other lenders.” says Jeff King, Director of Franchise Development.
“ApplePie Capital is thrilled to partner with Grease Monkey to help support their growth more quickly and efficiently,” said Denise Thomas, CEO and co-founder of ApplePie. "When selecting brands we want to partner with, we look for franchisors with strong unit-level economics, low closure rates, and successful franchisees. Grease Monkey’s track record in these areas made it an easy decision to embark on what we hope will be a long-term partnership. The options we are able to provide often do not require personal collateral, and we have introduced a lower pricing model to help them accelerate their aggressive growth plans.”
Franchisees interested in getting started with a free consultation can contact ApplePie by visiting applepiecapital.com/grease-monkey or contacting Matt Sawicki at firstname.lastname@example.org or 734-207-0800 ext. 210.
About FullSpeed Automotive™
FullSpeed Automotive is the parent company to: Grease Monkey®, SpeeDee® and LubePro’s® quick lube brands as well as the Monkey Shine car wash brand. FullSpeed Automotive also operates Havoline® xpress lube®, Herbert Automotive, Handy Lube Express and Mobil 1 Lube Express™ locations as part of its Retail Operations Division. In total, the company serves millions of customers globally, with over 540 units within North & South America and overseas. The new parent company name draws on the customer appeal of its quick lube brands, all of which emphasize speed of professional service while also providing expert recommendations for additional automotive maintenance and repair needs.
About Grease Monkey®
Founded in 1978 Grease Monkey is one of the largest automotive quick lube franchisors – not owned by a major oil company – with more than 340 centers currently located in the United States, Mexico, South America, China, and Saudi Arabia. Grease Monkey’s industry leading Certified Pit Crews provide busy customers with a “Service Done Right … On Time Guaranteed!™” experience. Grease Monkey is also proud to have received the VetFran 5?Star rating demonstrating its extraordinary commitment to “provide access and opportunities in franchising to our Nation’s Veterans and their Spouses”. Services include fluid, filter and tire maintenance, as well as brake services. For more information, go to www.greasemonkeyintl.com.
About ApplePie Capital
ApplePie Capital is an innovative financial solutions provider dedicated to the franchise industry. ApplePie provides a wealth of financial choices for franchise entrepreneurs at every stage of their development, with a diverse and growing network of capital providers and financing solutions, including growth capital, SBA and conventional loans, and equipment financing. ApplePie's franchise finance experts are focused on matching clients with the right option at the right time, maximizing their efficiency and reducing the headaches of working separately across individual lenders. For more information, visit ApplePieCapital.com.
SOURCE Grease Monkey