Press release from Business Wire
GE Capital Lends $6.8 Million to Taco Bell Franchisee Guerrieri Management Inc.
Monday, July 29, 2013
GE Capital Lends $6.8 Million to Taco Bell Franchisee Guerrieri Management Inc.08:00 EDT Monday, July 29, 2013
SCOTTSDALE, Ariz. (Business Wire) -- GE Capital's Franchise Finance business announced today that it has provided Guerrieri Management, Inc. (GMI) with a $6.8 million credit facility. Based in Cape Coral, FL, the company currently operates 12 Taco Bell restaurants in the Tampa-Clearwater area.
Gordon Guerrieri, company president, originally engaged franchise financial advisors MarshallMorgan, LLC, who suggested GE Capital. MarshallMorgan later worked with GE Capital to find the best financial structure for the borrower's future growth and goals. GMI used the bulk of the funds to refinance current debt, including debt related to one newly opened Taco Bell location. Additionally, GE provided GMI with a development line of credit, which will be used to develop or acquire several new sites.
“When I started looking to expand, I was impressed by GE Capital's understanding of the development process,” said Gordon Guerrieri, company president. “That, combined with their creativity and fast execution, gave me what I need to grow my business.”
Although GE Capital has more than 30 years of experience in the restaurant industry, GMI is a new customer, noted Casey Crimmins, a vice president who handles sales on the East Coast for GE Capital, Franchise Finance.
“Gordon exemplifies our typical customer,” he said. “We love to work with experienced entrepreneurs who operate a small number of restaurants but have an appetite to grow.”
About Guerrieri Management Inc.
Guerrieri Management, Inc. (GMI) is a 14-year franchisee of Taco Bell in the Tampa-Clearwater, FL market. It has over 425 employees. GMI has been recognized every year of its existence as one of the top 20 franchises in the Taco Bell system and is a four-time “Franchisee of the Year” award winner in the southeast region. Company president Gordon Guerrieri has been in the Taco Bell system for 35 years.
About GE Capital, Franchise Finance
GE Capital, Franchise Finance (GEFF) is a leading lender for the U.S. franchise finance market via direct sales and portfolio acquisitions. With more than 30 years of experience and over $7 billion in served assets, it provides financing to more than 2,000 customers. The business specializes in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Its team of industry experts works with entrepreneurial customers to help them develop individualized growth plans. GEFF customers also receive access to its proprietary industry research and cutting-edge digital tools. For more information, visit http://www.gefranchisefinance.com or follow company news via Twitter (https://twitter.com/GELendLease).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (https://twitter.com/GECapital).
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
GE Capital, Americas
Lisa Tibbitts, 203-956-4582