3 New Clients Sign on for ApplePie Capital’s Funding Model
Capriotti's is one of three new clients for ApplePie Capital.
Three new franchise clients push the total to 11 for ApplePie Capital, the fledgling website connecting investors to franchise loans in a version of crowdfunding. They are Brain Balance Achievement Centers, Brightway Insurance and Capriotti’s Sandwich Shop.
ApplePie of San Francisco officially launched in February its lending marketplace, which is dedicated solely to franchising. All offerings on the marketplace are franchise loans that ApplePie has committed to fund. Qualified investors can choose to purchase fractional shares of loans. Any remaining portion is funded from a pool of capital ApplePie has raised.
Each franchise brand has been pre-qualified by ApplePie in order to speed financing for their franchisees. ApplePie loans from $100,000 to $1 million to borrowers to start, expand, remodel, refinance or recapitalize their business, then enables individual and institutional investors to invest via their online marketplace.
CEO Denise Thomas said in a release ApplePie seeks franchisors that “have proven, well-established business models and support systems that help franchise entrepreneurs create successful small businesses.”
Bruce Evans, VP of franchise sales at Capriotti’s, said they signed with ApplePie because it’s a “new capital source” for franchisees that can “simplify and accelerate their funding process.”