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GE Capital, Franchise Finance Provides $74MM to Team Schostak Family Restaurants

November 06, 2012, 06:16 AM
Filed Under: Franchise Finance

GE Capital, Franchise Finance provided a $74 million loan to Team Schostak Family Restaurants, an Applebee’s International, Inc. and Burger King® franchisee. The financing will be used to fund the acquisition of 65 new Applebee’s units.

“GE Capital, Franchise Finance proved to be a great choice for us,” says Mark Schostak, executive chairman, Team Schostak Family Restaurants. “They continuously strive to ensure our satisfaction, and it resulted in a successful transaction.”

Headquartered in Livonia, Mich., Team Schostak Family Restaurants operate 62 Burger King restaurants, 65 Applebee’s Neighborhood Bar and Grills, and three Del Taco restaurants.
"We are thrilled to have the opportunity to work with Team Schostak Family Restaurants,” says Dave Alexander, vice president, GE Capital, Franchise Finance. “With our industry expertise, we were able to underwrite and commit to the entire credit facility under tight deadlines, which allowed for a more streamlined process for Mark and his team.”

Applebee’s is the world’s largest casual dining chain with approximately 2,000 locations in 49 states, 16 countries, and one U.S. territory. 

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