FASTSIGNS Secures $20MM in Franchisee Financing through ApplePie Capital
DEC 11, 2017 - 7:26 am
FASTSIGNS International, franchisor of FASTSIGNS, a sign, graphics and visual communications franchise, partnered with ApplePie Capital to offer new and existing franchisees access to up to $20 million in debt capital to drive expansion across the U.S. To date, FASTSIGNS has opened 35 centers across the U.S. and Canada and signed 44 franchise agreements, with plans to open an additional 45 centers in 2018.
“2017 has been another record year for FASTSIGNS, in every metric. We are experiencing continued growth both in the U.S. and abroad. As we look toward future growth, with both new and existing franchisees, ApplePie Capital is the ideal partner to support our aggressive expansion goals,” said Catherine Monson, CEO of FASTSIGNS International. “ApplePie understands the franchise business model and hasdeveloped a comprehensive lending program designed the address the specific needs of FASTSIGNS’ franchisees. ApplePie Capital’s decision to extend to up $20 million of credit to FASTSIGNS franchisees will help our franchisees open new centers, remodel existing locations, provide capital for acquisitions and assist with refinancing.”
FASTSIGNS has experienced a surge in franchise development and international growth this year fueled by its continued success and the ongoing worldwide need for visual communications and digital signage technology. Markets with planned FASTSIGNS openings for the remainder of 2017 include Phoenix; Hartford, CT; Dallas; Detroit and the state of Florida.
“ApplePie Capital is thrilled to add FASTSIGNS 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. FASTSIGNS not only meets all of our criteria —— they exceed it. We’re looking forward to working with FASTSIGNS’ franchisees to support their long-term growth plans.”
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