SIOUX FALLS, S.D. -- Des Hague, president and CEO of Hot Stuff Foods, said the company has implemented a new equipment financing program.
Effective immediately, said Hague, Hot Stuff Foods will offer new and existing franchisees a new quick-serve financing option. The program, which is executed via an alliance with Direct Capital Corp., expedites both credit processing and funding, he said.
According to Hague, an application for financing can be processed in as little as 15 minutes to a few days depending on credit history, and [image-nocss] funding can actually begin the same day the application is processed.
Helping our retailer partners finance their foodservice growth as easily as possible is simply a good business decision, he said. Our franchisees have already opened more than 150 new Hot Stuff Foods locations this year as well as upgrading over 200 existing locations. We want to keep this momentum going."
Other features of the new financing package include financing up to $150,000 without financials; deferred payment up to 90 days; seasonal payment structures; financing for soft costs (installation, training, shipping, taxes, etc.); and extended term financing (up to 60 months).
This program is going to create tremendous opportunity for all Hot Stuff Foods' franchisees said Jim Broom, CEO of Direct Capital. We are going to provide them with immediate access to capital to launch, expand, or remodel their stores in the most affordable fashion possible. We want to help each franchisee achieve and sustain profitability as quickly as possible and this program will be a major asset to achieving that goal.
Broom pointed out several key benefits of the new equipment financing program for franchisees, including tax benefits, increased cash flow for daily operating expenses and establishing a business credit history.
Sioux Falls, S.D.-based Hot Stuff Foods franchises and licenses its branded food concepts in more than 1,600 locations throughout the United States, Canada, Europe and Asia. Hot Stuff Foods offers a number of individual and bundled brands in various categories including Hot Stuff Pizza, Hot Stuff Food On the Go, Hot Stuff Food Xpress, Smash Hit Subs, Summit Subs, C-Street Bakery, Mean Gene's Burgers, Mean Gene's Pizza, Stone Willy's Pizza, Moose Bros. Pizza, Eddie Pepper's, Asian Creations, Chix Chicken, Nap Hendrix's Southern Grill and Caff a Origins Coffee.