News

Zaxby's franchisee secures funding to add third unit

September 13, 2019

A Zaxby's franchisee has received a $2.1 million loan from TD Bank's U.S. Small Business Administration Lending Group to add to its locations.

Fry Guys Management Group, based in Fayetteville,, North Carolina will use the funds to build a third Zaxby's at 130 S. 3rd St., in Spring Lake, North Carolina. TD previously financed Fry Guys' first two Zaxby's franchise locations with SBA financing that totaled $3.6 million, according to company press release.
 
"We appreciate the dedicated team that assisted us through the loan process from the beginning to the end," Kip Earnhart, a member of Fry Guys Management Group, said in the release. "In some cases, with commercial financing, especially when the SBA is involved, it can be somewhat complicated, and the team at TD has always been there to help."
 
Founded in 1990, by childhood friends Zach McLeroy and Tony Townley, Zaxby's has more than 900 locations in 17 states.
 
"Due to our deep understanding of the customer's needs, TD Bank was able to leverage our SBA Lending Group and regional market expertise to provide Fry Guys with a customized loan solution that allowed the company to achieve its business goals," Mallory Winter, business development officer in TD's SBA Lending Group, sad in the release. "We are proud to serve as a trusted and valuable resource to the customer and hope to continue to build upon this relationship by providing personalized support tailored to the Fry Guys Group's needs."