Franchise Update Magazine Issue II, 2017 - Page 70

Supplier Spotlight: BY KERRY PIPES GETTING A PIECE OF THE PIE ApplePie Capital simplifies franchise funding A dizzying array of financing options exists for franchise operators today. But not all lenders and capital are equal, so making the right choice can be complicated. And that, says Denise Thomas, CEO and co-founder of ApplePie Capital, is exactly why the franchise- exclusive lending company was created in 2014. “We started with the be- lief that there was a need for growth-oriented lending solu- tions in the franchise industry and that we could improve the borrowing experience for franchisees through specialization on franchise businesses, a consultative approach, and technol- ogy,” says Thomas. Denise Thomas 68 Franchiseupdate ISS U E II, 2 0 1 7 Before making a single loan, ApplePie’s founders spent more than a year speaking with franchisors and industry experts to better understand the needs and challenges that face franchise entrepreneurs. The company began lending in January 2015. To date, ApplePie has pro- vided more than $65 mil- lion to franchisees, with an additional $500 mil- lion in commitments over the next few years from institutional investors and banks who want to be a part of this asset class. In April, ApplePie announced the acquisition of Funding Solutions, a national franchise lending consultancy that specializes in SBA, conventional, and equip- ment finance loans, as well as the appointment of franchise industry veteran Ron Feldman as chief de- velopment officer. These additions allow ApplePie to provide new product options, an expanded network of lending sources, and an extraordinary wealth of franchise finance expertise for franchisees. At its core, ApplePie is a growth delivery system for franchisors. “We unlock value for the franchise brand by providing not only access to capital for their franchisees, but also growth planning,” says Thomas. “We are 100 percent focused on nurtur- ing the growth of franchisees and giving them a full range of loan options through a single source, re- ducing the headaches and inefficiency of working separately across individual lenders.” The team at ApplePie has put together a group of franchise finance experts specializing in various financial product types to help guide franchisees and offer a diverse set of choices—and exactly the right loan for their current stage of growth. Rather than a typical, transactional experience with a lender, the ApplePie approach is to partner with franchisees over