GE Capital’s Franchise Finance business announced it has provided Guerrieri Management, Inc. (GMI) with a $6.8 million credit facility. Based in Cape Coral, FL, the company currently operates 12 Taco Bell restaurants in the Tampa-Clearwater area.
Gordon Guerrieri, company president, originally engaged franchise financial advisors MarshallMorgan, who suggested GE Capital. MarshallMorgan later worked with GE Capital to find the best financial structure for the borrower’s future growth and goals. GMI used the bulk of the funds to refinance current debt, including debt related to one newly opened Taco Bell location. Additionally, GE provided GMI with a development line of credit, which will be used to develop or acquire several new sites.
“When I started looking to expand, I was impressed by GE Capital’s understanding of the development process,” said Gordon Guerrieri, company president. “That, combined with their creativity and fast execution, gave me what I need to grow my business.”
Although GE Capital has more than 30 years of experience in the restaurant industry, GMI is a new customer, noted Casey Crimmins, a vice president who handles sales on the East Coast for GE Capital, Franchise Finance.
“Gordon exemplifies our typical customer,” he said. “We love to work with experienced entrepreneurs who operate a small number of restaurants but have an appetite to grow.”
Guerrieri Management is a 14-year franchisee of Taco Bell in the Tampa-Clearwater, FL market. It has over 425 employees. GMI has been recognized every year of its existence as one of the top 20 franchises in the Taco Bell system and is a four-time “Franchisee of the Year” award winner in the southeast region. Company president Gordon Guerrieri has been in the Taco Bell system for 35 years.
GE Capital, Franchise Finance is a leading lender for the U.S. franchise finance market via direct sales and portfolio acquisitions. With more than 30 years of experience and over $7 billion in served assets, it provides financing to more than 2,000 customers.