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ApplePie Capital to Offer Up to $20MM to Grease Monkey Franchisees

April 26, 2019, 07:07 AM
Filed Under: Franchise Finance

Grease Monkey International, LLC announced it is working with ApplePie Capital to offer new and existing franchisees access to up to $20 million in debt capital to drive continued expansion across the U.S.

“Grease Monkey is committed to helping our franchisees grow and prosper, and we are excited to launch this program with ApplePie. They are franchising professionals who understand the needs of our franchisees to help foster their growth. Their decision to allocate $20 million to Grease Monkey franchisees will help us achieve our accelerating expansion efforts in key target markets across the U.S.” said Ralph Yarusso, Chief Development Officer, Grease Monkey.

“As a multi-brand international franchisor, we chose ApplePie Capital as a preferred lender because they took the time to learn about our business model and our core values. Their knowledge of the franchise industry enables them to offer a multitude of loan options to our franchisees. ApplePie’s ability to customize loan programs for a first-time center owner or a multi-center operator, brings a unique component to the relationship that can be challenging to find with other lenders.” said Jeff King, Director of Franchise Development.

“ApplePie Capital is thrilled to partner with Grease Monkey to help support their growth more quickly and efficiently,” said Denise Thomas, CEO and co-founder of ApplePie. "When selecting brands we want to partner with, we look for franchisors with strong unit-level economics, low closure rates, and successful franchisees. Grease Monkey’s track record in these areas made it an easy decision to embark on what we hope will be a long-term partnership. The options we are able to provide often do not require personal collateral, and we have introduced a lower pricing model to help them accelerate their aggressive growth plans.”


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