GE Capital Franchise Finance (GEFF) announced it provided $35 million in two separate term loans to Romulus, one of the largest IHOP franchisees. The funds will be used to refinance existing debt, provide a dividend recapitalization and finance the acquisition of 16 IHOP units in Ohio and Indiana.

Romulus opened its first IHOP in Phoenix in 1991. With the new units, Romulus owns 75 units across nine states today.

“We’ve been a lender to Romulus since 2012,” said Trey Brown, sales leader of GEFF. “Chris and his management team are top-notch operators, choosing excellent sites and capitalizing on IHOP’s exciting new menu.”