09.28.07
Irwin Franchise Capital Corporation (IFCC) recently closed two transactions totaling $6.93 million for JRC Pizza/Elite Team of Midland, Texas.

Montvale, NJ--Irwin Franchise Capital Corporation (IFCC) recently closed two transactions totaling $6.93 million for JRC Pizza/Elite Team of Midland, Texas. The recapitalization and acquisition financing project allowed the Domino's franchisee to acquire 23 stores in Arizona and refinance his existing units in Texas.

"When I originally looked at acquiring these stores, I thought I would have to sell my existing stores," explained JRC Pizza owner Jim Gerety. "But, when Irwin looked at the deal, they suggested a different structure that not only allowed me to retain my existing stores and buy the new ones, but also saved me literally several hundred thousand dollars in the process."

The acquisition transaction included a 12-month interest only provision to give JRC Pizza time to season the new stores.

"Jim Gerety has a great company that is growth minded. We simply suggested an alternate structure that would allow him to accomplish his goals, and to do so with significant savings," according to IFCC's Chief Credit Officer Lloyd Droller. "One thing that we try to do here at Irwin is to really understand each and every customer's business. We then uniquely structure each loan to reflect the best interest of the customer."

An industry leader, Irwin Franchise Capital Corporation specializes in providing financing for franchised restaurants. With 15 offices across the nation, Irwin employees assist franchisees with financing real estate, leasehold mortgages, equipment, acquisitions, remodels, conversions, partner buyouts and refinancing.

Irwin Franchise Capital Corporation is an Irwin Commercial Finance company, a subsidiary of Irwin Financial Corporation (NYSE: IFC). Irwin® Financial Corporation is a bank holding company with a history tracing to 1871. The Corporation, through its principal lines of business provides a broad range of financial services to small businesses and consumers in selected markets in the United States and Canada.