Carrollton, Texas-based sign shop franchisor FASTSIGNS International Inc. announces that it is partnering with San Francisco-based Apple Pie Capital to offer new and existing franchisees access to up to $20 million in debt capital to drive expansion across the U.S.
“2017 has been another record year for FASTSIGNS, in every metric. We are experiencing continued growth both in the U.S. and abroad,” says Catherine Monson, its CEO. “As we look toward future growth, with both new and existing franchisees, ApplePie Capital is the ideal partner to support our aggressive expansion goals.
“ApplePie understands the franchise business model and has developed a comprehensive lending program designed the address the specific needs of FASTSIGNS’ franchisees. ApplePie Capital’s decision to extend to up $20 million of credit to FASTSIGNS franchisees will help our franchisees open new centers, remodel existing locations, provide capital for acquisitions, and assist with refinancing.”
To date FASTSIGNS has opened 35 centers across the U.S. and Canada and signed 44 franchise agreements, with plans to open an additional 45 centers in 2018, the company says.
“ApplePie Capital is thrilled to add FASTSIGNS to the franchisors we serve,” says Denise Thomas, CEO and co-founder of ApplePie. “We are very selective in the brands we partner with and look for franchisors with strong unit-level economics, low closure rates, and successful franchisees. FASTSIGNS not only meets all of our criteria-they exceed it. We’re looking forward to working with FASTSIGNS’ franchisees to support their long-term growth plans.”