John Coletta, executive vice president and chief financial officer at Rock Bottom, says the refinancing allows the company to focus on growth. "Access to capital is vital for Rock Bottom if we want to meet our growth objectives during the next few years," says Coletta. "We plan to continue the relationship with GE Commercial Finance, Franchise Finance as we explore future opportunities."
Besides its flagship Rock Bottom Restaurant and Brewery, the Colorado-based company also owns Old Chicago, ChopHouse and Brewery, and Sing Sing dueling piano bar concepts. Altogether, the company currently owns or franchises 115 units across the country, with plans to reach 200 by 2008.
Jason Stall of GE Commercial Finance, Franchise Finance, says maintaining an ongoing relationship with customers, such as Rock Bottom, is part of the commitment GE makes to help them grow.
"We hope customers view us as an extension of their business," says Stall. "Whether for capital for refinancing, reimaging, acquisitions, or new construction, we're dedicated to helping them succeed, and we understand the franchise business from just about any angle."
GE Commercial Finance, Franchise Finance has more than $11 billion inloans in the franchise finance market. It serves more than 6,000 customers and more than 2,000 properties, primarily in the restaurant, hospitality, branded beverage, storage and automotive.
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