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GE Capital Franchise Finance Provides Original Joe’s With C$15.3MM for Expansion Projects

February 07, 2013, 07:16 AM

GE Capital's Canadian Franchise Finance business provided Original Joe's Franchise Group Inc. (OJ's) with a C$15.3 million senior secured credit facility. OJ's will use it to continue its expansion of the Original Joe's and State & Main restaurant concepts. GE Capital, Canada served as lead arranger on a senior credit facility with BMO Bank of Montreal and Laurentian Bank as participants.

Headquartered in Calgary, Alberta, OJ's is a full-service casual restaurant and bar with 55 locations, which are a mix of corporate-owned, joint venture and franchised units.

"Throughout our association with GE Capital, we've been impressed by their understanding of and commitment to the restaurant industry and especially to our own business," said Derek Doke, president and CEO of OJ's. "With this credit facility, GE Capital provides us with a solid financial foundation that allows us to concentrate our energies on expanding into new markets."

"We've been financing OJ's expansion projects for four years," said Edward Khediguian, senior vice president of GE Capital's Franchise Finance business in Canada. "We're pleased to continue to work with this leader in the Canadian restaurant industry."

Original Joe's Franchise Group Inc. (OJ's) is a full-service casual restaurant and bar that opened the doors of their first location in the community of Marda Loop in Calgary, Alberta in 1997.

GE Capital, Franchise Finance is a lender to the franchise finance market, serving the restaurant and hospitality industries. We specialize in financing regional and national restaurant businesses of all sizes across the country.


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