GE Capital, Franchise Finance provided a $7.5 million credit facility to Houston-based MSK Enterprises LLC, which operates 16 Church's Chicken units and 12 Little Caesars units throughout Texas and Arkansas.
The financing helped fund the acquisition of an additional 14 Church's Chicken stores to MSK's portfolio located throughout Alabama and Florida, as well as the development of three Little Caesars stores.
The facility includes a $6.5 million term loan for the Church's Chicken additions and five fee properties, and a $1 million development line of credit for the three Little Caesars units.
Funding was provided through GE Capital's bank affiliate, GE Capital Financial Inc.
"We've worked with MSK Enterprises before but this was our first transaction together, and we look forward to working with them again," said Marques Bayne, vice president, GE Capital, Franchise Finance. "It's always wonderful to build a relationship with someone looking to aggressively grow."