GE Capital, Franchise Finance recently provided $11.9 million to BalRod Enterprises, Inc., a Wendy’s franchisee. The facility is being used to refinance existing debt and to purchase real estate. A portion of the funding was provided through GE Capital’s bank affiliate, GE Capital Financial Inc.
“We have long ties to GE Capital,” explains partners Eddie Rodriguez and Sergio Balsinde, BalRod Enterprises, Inc. “Their flexibility along with their industry expertise are key factors in helping us as we continue to grow.”
Based in Hialeah, Florida, BalRod Enterprises was established in 1993 and, in conjunction with its affiliates, owns and operates 17 Wendy’s units throughout Miami and Orlando.
“We were able to help BalRod consolidate their existing loans,” explained Mike Mitchell, vice president, GE Capital, Franchise Finance. “We were also able to use our knowledge of their real estate assets to fully fund purchase options on two locations.”
The Wendy’s Company is the world’s third largest quick-service hamburger company. The Wendy’s system includes more than 6,500 franchise and company owned restaurants in the U.S. and 25 other countries and U.S. territories worldwide.
GE Capital, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $12 billion in served assets, we serve over 5,000 customers and over 22,000 property locations. We specialize in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Our team of industry experts will work with you to help develop growth plans with access to our proprietary industry research and customized tools. More information is available at www.gefranchisefinance.com.
