Applepie Provides $20MM in Debt Capital to Scooter’s Coffee
SEP 28, 2018 - 7:20 am
Midwest-based Scooter’s Coffee partnered 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.
Founded in 1998 by Don and Linda Eckles in Bellevue, NE, Scooter’s Coffee is at the dawn of a strategic growth phase in both the Midwest and nationwide. The U.S. coffee market is an estimated $48-billion-a-year recession-resistant industry, and Scooter’s is striving to become the #1 drive-thru coffee franchise in the nation.
“We are excited to be partnering with ApplePie Capital as they understand Scooter’s business model, brand promise and core values. AppliePie Capital is a proven leader in the franchise financing world. $20 million in funding to our potential and existing franchises is a key step in Scooter’s strategic initiatives to fuel growth and brand awareness,” said Scooter’s Coffee CFO Chad Hartnett.
“ApplePie Capital is thrilled to add Scooter’s Coffee to the franchisors we serve,” said Denise Thomas, CEO and co-founder of ApplePie. “We are very selective in the brands we partner with and look for franchisors with strong unit-level economics, low closure rates, and successful franchisees. The track record for Scooter’s Coffee in these areas made it an easy decision to begin a partnership. We look forward to supporting their franchisees’ long-term growth plans.”
ApplePie Capital is dedicated to the franchise industry and provides them with a wealth of financial choices at every stage of their development, with a network of capital providers and financing solutions, including growth capital, SBA loans and equipment financing.
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