Industry News | February 17, 2011
Five Guys Franchisee Finds Some Financing Help
United Capital Business Lending, a subsidiary of BankUnited, announced that it is providing $2 million in financing to Five Guys Burgers and Fries owner Craig Cohen. United Capital refinanced three existing stores for the Brooklyn, New York–based franchisee and will also provide funding to open two additional Five Guys locations. With the new sites, Cohen will own and operate five Five Guys restaurants.
United Capital Business Lending, which recently acquired the small business lending operations of Butler Capital, is a subsidiary of BankUnited, the largest bank in Florida with $11 billion in assets. The newly formed United Capital Business Lending now brings the prior experience of Butler Capital together with the financial strength of BankUnited.
“The United Capital team is excited to be a part of the Five Guys franchise’s phenomenal growth,” says Trey Grimm, business development officer for United Capital. “With the solid financial resources of our parent company BankUnited, United Capital has the ability to fund franchisees’ new restaurant development and to refinance existing locations with very competitive pricing.”
In addition to Five Guys, the United Capital team has financed franchisees for Burger King, Subway, Dunkin’ Donuts, Taco Bell, KFC, Pizza Hut, Checkers, Arby’s, Buffalo Wild Wings, and Papa John’s Pizza, among others.
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