Papa Murphy's Pizza's partnership with Directed Equity to provide funding for qualified franchise candidates led to the chain's record growth in 2012.

"Even in this difficult lending environment, banks have an appetite for a quality brand with a high success rate and overall proven trends, such as Papa Murphy's," said Mark Challis, president of Directed Equity.

The collaboration resulted in financing for 32 new stores and transfers throughout the past two years. Directed Equity has also allocated resources to provide an additional $12 million in funding to fuel Papa Murphy's continued growth in 2013.

"Our brand has found a sweet spot in this economy and, thanks to a very solid and strategic relationship with Direct Equity, we continue to strengthen our national footprint," said Kevin King, chief development officer for Papa Murphy's.

Papa Murphy's now has more than 1,300 franchised and corporate-owned locations in 37 states and Canada, with plans to add more than 100 new stores in 2013.

Read more about franchising and growth.

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