Industry News | March 23, 2010
Wendy's Franchisee Gets Some Financing Help
“This facility with New-Wen is part of our long tradition of supporting small and mid-sized restaurant franchise businesses,” says Allan Hauptli, vice president at GE Capital, Franchise Finance. “We’ve been New-Wen’s exclusive lender for nearly a decade and are pleased to continue this long relationship.”
New-Wen, based in Newark, Ohio, owns and operates six Wendy’s units throughout the Ohio area.
“Real estate evaluations can be a lot to deal with at a local bank level,” says Mike Simmerman, president of New-Wen Inc. “We chose to continue with GE Capital because their financing expertise enabled us to successfully and efficiently consolidate our multiple debt structures, freeing up capital to make some important investments for our future.”
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