News

McAlister’s Deli secures $15 million for expansion

July 24, 2014

McAlister's Deli has secured $15 million in funding to drive its nationwide expansion plans. The funding comes from Benetrends.

"McAlister’s continues to be recognized as a top fast casual concept with high-quality food and excellent service, and we consistently experience strong results that are driving franchise development across the country," McAlister’s Chief Development Officer Jeff Sturgis said in a news release. "Coupled with the success we’ve seen this year, the $15 million in financing from Benetrends will provide immense support for new and existing franchisees to grow their businesses."

The funding is part of Benetrends $100 million franchise financing program, which launched in January.

"This year, we’ve helped franchisors secure $35 million to grow their presence in new and existing markets and we are thrilled to partner with McAlister’s, a rapidly expanding fast casual concept," Rocco Fiorentino, president & CEO, Benetrends, said in the release. "According to the International Franchise Association, franchise businesses are projected to grow faster than the rest of the economy in 2014. Benetrends is committed to supporting the growth and success of franchises by providing access to capital, as well as a full suite of small business funding solutions."

Benetrends’ created the $100 million fund to help IFA franchisor members provide qualified candidates with direct access to capital for new store development.

McAlister’s is the third franchisor selected by Benetrends to participate in the new fund. Earlier this year, Hand & Stone and Sport Clips Haircuts each received $10 million in initial capital to assist with its franchise growth.