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Two Checkers Drive-In Burger Restaurants

“After being declined by a large national bank because my request did not fit in their “box”, I was referred to 44 Business Capital to help us obtain financing. 44 took the time to dig into the deal and see past the short operating histories of the two Checkers franchise locations I was looking to purchase. 44 focused on my entrepreneurial track record and determined exactly why I would be successful in this expansion. From the initial phone call introduction, all the way through the actual closing day, 44 Business Capital was involved, helpful and professional throughout.”

Thomas Barnard
Nutmeg Burger, Simsbury, CT

CHALLENGE

The borrower was an existing franchisee of Checkers in Connecticut. He was looking to borrow money to purchase two locations in the Philadelphia market which had only been open for 9 months. Most lenders, including one of the largest SBA lenders in the country, thought this was “too much too soon”. 44 Business Capital studied the principal's management experience and was very impressed with his background and personal net worth. We studied the franchise performance history along with the top line revenues of the young locations. All the positive factors of the deal far offset the short operating histories of the two locations being acquired. We structured an SBA 7a loan for Mr. Barnard to acquire both locations and continue his growth with a solid franchisor.