News

Restaurant group secures financing for Corner Bakery Cafe expansion

MX Restaurants and Bakeries Inc. has secured a $5.6 million loan from GE Capital's Franchise Finance to pay off short-term debt related to a recent acquisition and to develop four additional Corner Bakery Cafe units.

October 23, 2014

MX Restaurants and Bakeries Inc. has secured a $5.6 million loan from GE Capital's Franchise Finance to pay off short-term debt related to a recent acquisition and to develop four additional Corner Bakery Cafe units.

Based in McAllen, TX, MX Restaurants already operates seven Corner Bakery restaurants in the Houston and South Texas markets.  

This is the first U.S.-based franchise endeavor of Bernardo Castillon, owner and principal of MX Restaurants. His company operates two chains in Mexico: the fast casual Super Salads and a casual seafood concept called Cabo Grill.

"Because we're still relatively new to the U.S. market, it was helpful to work with a lender that has a lot of experience in the restaurant industry," said Castillon. "We're glad to develop this relationship and we know it will benefit us in the future as we continue to grow."