ApplePie Capital announced on Wednesday the acquisition of Funding Solutions, LLC, a national franchise lending consultancy that specializes in SBA, conventional and equipment finance loans, and the appointment of Ronald Feldman, who was named chief development officer.
While sharing details about the acquisition and appointment, Denise Thomas, CEO and co-founder of ApplePie, stated:
“These developments are a game changer for ApplePie and the brands we serve. In addition to the decades of franchise finance experience we are bringing on board to accelerate new product innovation, we can now provide comprehensive lending programs to franchisors, eliminating the need for their franchisees to engage with multiple lenders. By combining the $500 million in committed capital we’ve raised for our core growth product with a diverse lender network, we can ensure that our franchisee clients have access to the right financial solutions, wherever they are in their development cycle.”
Feldman also commented:
“ApplePie is uniquely positioned to transform franchise finance by using technology and franchise data in new and innovative ways to make financing simple and predictable. They also truly understand what drives growth and work backwards from the needs of franchisors to develop custom solutions for their franchisees. I am thrilled to bring my expertise to ApplePie and help build on the momentum they have created in just a few short years.”
ApplePie Capital also reported that Randy Jones, managing partner of Funding Solutions, will now serve as its new head of originations.
“Our team couldn’t be more excited to join ApplePie. Their values are aligned with ours, their franchisor-centric approach to doing business mirrors our own, and by combining forces and leveraging their technology and access to capital markets, we can provide a superior experience for the franchisors and franchisees we serve.”
Since it began lending in January 2015, ApplePie has formed partnerships with 43 franchise brands, funded over $65 million in loans, and returned over $12 million in principal/interest to investors.