Industry News | May 14, 2008

GE Capital and Raising Cane's Close Finance Deal

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GE Capital Solutions, Franchise Finance, and Louisiana-based Raising Cane’s Chicken Fingers completed a $29.5 million financing deal including a $26 million term loan and a $3.5 million revolving line of credit. The financing will free up growth and working capital, allowing the business to grow.

“We worked with Raising Cane’s to refinance and consolidate their existing debt, significantly increasing their cash flow, and helping them achieve their growth objectives,” says Paul Cantieri, vice president, GE Capital Solutions, Franchise Finance. “It’s important to maintain an open line of communication to make sure their needs are met, allowing them to concentrate on their business instead of the financing.”

GE Capital Solutions, Franchise Finance, brings years of in-depth industry experience to any financing deal they conduct, allowing for a focused deal with less stress on the client.

“We’ve enjoyed a strong and successful relationship with GE Capital Solutions, Franchise Finance since 2003, and are a happy return customer,” says Craig Silvey, chief financial officer, Raising Cane’s. “They helped us save money and time by increasing our cash flow while still allowing us to run our business on our terms.”

Raising Cane’s is a franchise concept focused on consistently serving high quality meals with fast food speed and convenience. Their commitment to their product makes them a popular and growing restaurant franchise. Based in Baton Rouge, La., they have expanded to include franchises in Mississippi, Texas, Colorado, Georgia, Ohio, Oklahoma, Nevada, Alabama, Virginia, Kentucky, Minnesota, and Nebraska.

GE Capital Solutions, Franchise Finance is a lender serving customers in the restaurant, hospitality, and branded beverage industries. It provides financing to help franchisees and franchisors grow, compete, and prosper. It offers access to capital with a diverse array of flexible financing options, including funds for purchasing real estate or equipment, new construction or remodels, acquisitions, or refinancing.

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