GE Capital, Franchise Finance provided $19.35 million in financing to Tappan Street Restaurant Group, Inc., owners of Taco Mac, based in Atlanta. The financing included a $13.35 million term loan to refinance general operating debt and a $6 million revolver for new-unit development.
Funding was provided through GE Capital, Franchise Finance’s bank affiliate, GE Capital Financial Inc.
“We’re excited to develop a strong relationship with GE Capital, Franchise Finance, who has demonstrated that they have the knowledge and experience to help us be successful in this next stage in our growth.”
“While this is our first deal with Tappan Street,” says Scott Tocci, vice president, GE Capital, Franchise Finance, “our industry experience enabled us to successfully structure a complex loan for them. We look forward to working with Taco Mac as they expand their presence across the southeast.”
There are currently 26 Taco Mac locations in and around the Atlanta metro area and one in Chattanooga, Tennessee.
“This financing allows us to capitalize on our vision to grow the concept beyond the Atlanta metro area,” says Bob Campbell, CEO, Tappan Street Restaurant Group. “We’re excited to develop a strong relationship with GE Capital, Franchise Finance, who has demonstrated that they have the knowledge and experience to help us be successful in this next stage in our growth.”
Taco Mac first opened in Atlanta in 1979. It is a casual dining concept that specializes in its offering of Buffalo-style chicken wings and variety of domestic, craft and imported beers. Restaurants feature up to 40 high-definition, flat panel televisions and hundreds of draft and bottled beers.