Grease Monkey Secures $20 Million for Franchising
Grease Monkey International, as part of the FullSpeed Automotive family of brands, announced in an April 23 press release that it’s working with ApplePie Capital to offer new and existing franchisees access to up to $20 million in debt capital to drive continued expansion across the country.
“Grease Monkey is committed to helping our franchisees grow and prosper, and we are excited to launch this program with ApplePie,” said Ralph Yarusso, Chief Development Officer for Grease Monkey. “They are franchising professionals who understand the needs of our franchisees to help foster their growth. Their decision to allocate $20 million to Grease Monkey franchisees will help us achieve our accelerating expansion efforts in key target markets across the U.S.”
Jeff King, director of franchise development for Grease Monkey, said in the press release that they chose ApplePie Capital because they offered customizable loan packages that work for multi-location franchisees or new shop owners.
“ApplePie Capital is thrilled to partner with Grease Monkey to help support their growth more quickly and efficiently,” said Denise Thomas, CEO and co-founder of ApplePie, in the press release. “The options we are able to provide often do not require personal collateral, and we have introduced a lower pricing model to help them accelerate their aggressive growth plans.”