Edible Arrangements Partners With Direct Capital To Fuel US Expansion
Edible Arrangements®, the pioneer and leader in hand-sculpted, fresh fruit arrangements, has selected Direct Capital®, a national direct lender, as the exclusive preferred finance company for the brand. The expanded lending program was developed in response to capital needs to support growth initiatives in 2010 and beyond, and will be used for single and multi-unit development of new stores, store remodels and equipment purchases.
This announcement comes on the heels of Direct Capital’s expansion of their franchise lending unit after securing $100 million http://www.directcapital.com/News.aspx from Key National Finance and other conduits and banks in April, and renewing an additional $100 million line from DZ Bank. http://www.directcapital.com/News.aspx They have been one of the few, if not the only, specialty finance companies over the last 9 months to secure new capital.
“During a time when it is difficult for franchisees to obtain financing, we’ve expanded our franchise division to better support the industry and help successful brands, like Edible Arrangements®, continue to grow,” said Robyn Gault, Direct Capital’s Director of Strategic Accounts. “The retreat of many lenders from the market has left franchisees with limited options and has driven forward thinking franchisors like EAI to secure relationships that will keep capital flowing through their systems.”
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