TD Bank has provided a $2m Small Business Administration (SBA) loan for a new Zaxby’s Franchise location in Fayetteville.
The funds will be used to support the construction of a new Zaxby’s Franchise, which is operated by the Fry Guys Management Group.
TD Bank previously financed Fry Guys’ first two Zaxby’s franchise locations with SBA financing totalling $3.6m.
Kip Earnhart, member of Fry Guys Management Group, said: “We appreciate the dedicated team that assisted us through the loan process from the beginning to the end.
“In some cases, with commercial financing, especially when the SBA is involved, it can be somewhat complicated. The team at TD has always been there to help.”
Zaxby’s, founded in 1990, has more than 900 locations in 17 states and serves an array of fast food.
Mallory Winter, business development officer in TD’s SBA Lending Group, said: “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.
“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.”
Mark G. Smaizys, senior relationship manager in TD’s Commercial Lending Group, closed the transaction.
Last year, TD Bank ranked as the top lender in eight states as well as Washington, D.C.. It is also no. 1 in Maine-to-Florida and no. 2 nationally after lending $411.6m and approving a total of 4,282 SBA 7(a) and 504 loans combined.
These numbers were based on the SBA’s fiscal year, which ran from Oct. 1, 2017, to Sept. 30, 2018.