News & Press
ApplePie Capital Signs Strategic Partnership with LSQ Funding to Bring Efficient Accounts Receivable Financing to Franchising
ApplePie Capital, the first and only online lender dedicated to franchising, today announced a new strategic partnership with LSQ Funding Group, a leading technology-enabled provider of accounts receivable financing for small and mid-sized businesses.
When it comes to multi-unit expansion, access to the right capital, at the right time, with the right financial partner can be a game-changer in ensuring success. With a fresh approach to franchise financing—and the only lender dedicated to the industry—ApplePie Capital knows franchising and understands the unique needs of franchisees at every stage of growth.
“When someone comes to us, the first thing we want to know is what their plans are for growth, and for succession or exit,” says Ron Feldman, ApplePie’s Chief Development Officer. “Your exit plan – how long you want to run these units – can affect what kind of loan you get.”
ApplePie’s teams are brand specialists. Armed with well-defined goals and a snapshot of your financial picture and operations, ApplePie takes a consultative approach to create and execute a custom multi-unit financing strategy that ensures development stays on track.
ApplePie is excited to announce that Eric Reusch has joined our team as Chief Risk Officer & Head of Capital Strategy.
ApplePie Capital is pleased to announce that Tom McCammon is joining us as Head of Credit/Risk Operations. With over 15 years of hands on experience in SMB credit, management and operations, Tom brings more depth and breadth to Apple Pie Capital's already strong team.
San Francisco – ApplePie Capital, the first and only online lender dedicated to franchising, announced that it recently surpassed $300 million in loans originated to franchise entrepreneurs opening or expanding their businesses.
Cincinnati – Fifth Third Bank (Nasdaq: FITB) and ApplePie Capital announced new details today about their strategic partnership.
ApplePie Capital Announces Next Steps in Transforming Franchise Finance with Appointment of Chief Development Officer and Franchise Finance Company Acquisition
SAN FRANCISCO -- ApplePie Capital, the first online lender solely dedicated to the franchise industry, today announced the appointment of franchise industry veteran Ronald Feldman as chief development officer, as well as the acquisition of Funding Solutions, LLC, a well-established national franchise lending consultancy that specializes in SBA, conventional and equipment finance loans. Feldman and Funding Solutions’ managing partner Randy Jones will join ApplePie’s leadership team.
There’s an interesting statistic floating around that 71 percent of millennials would rather visit the dentist than just listen to a message from a bank. And anyone who has slogged through an SBA loan application might happily sign up for a root canal instead.
No, in the age of the internet, there’s little love for the traditional way to get a loan, the rules and the endless paperwork—if there ever was. Luckily for millennials, they can do just about all their banking through their phone. For business owners, however, banks were among their limited options.
In all those sentiments, ApplePie Capital founder and CEO Denise Thomas saw an opportunity. “It’s the way the world is going. If I can do so much on the internet, why can’t I do my financing?” pondered Thomas, who founded and self-funded the pioneering financing source in 2014.
Consumer-facing alt lenders in the US may be struggling, but business-focused lender ApplePie seems to be faring well.
The San Francisco-based fintech extends credit solely to people starting franchises, and raised a total of $16.5 million this week in a Series B round, according to the Wall Street Journal.
Fifth Third Bancorp is continuing its push into the financial technology business by investing millions in an online lender to the franchise industry.
Fifth Third (Nasdaq: FITB), the largest bank based in Cincinnati and the nation’s 13th-biggest, co-led the $16.5 million investment round in ApplePie Capital. Fifth Third teamed with Alexandria, Va.-based venture capital firm QED Investors to lead the investment. ApplePie also brought back several previous investors in this Series B round.