General Electric Company (NYSE:GE) Signs Deal To Adminster $58.75 Million Credit Loan To PF Growth Partners

General Electric Company (NYSE:GE) announced its GE Capital Franchise Finance division has been named administrator for a $58.75 million line of credit to PF Growth Partners LLC. PF Growth Partners are the largest franchisee of the Planet Fitness clubs line. The money will be used to refinance PF Growth Partners existing debt and also to fund future expansion plans. GE Capital markets were the sole arranger of the credit line and also the bookmaker for the facility line of credit.

Have an analyst breakdown the Bollinger Bands for GE.

Planet Fitness clubs are based in Maryland and have 28 clubs operating in the state along with Florida and Tennessee. They are planning to open 10 new clubs over the 2015 period. PF Growth Partners had already received financing from AlarisRolaty Corp for $35 million in 2014.

Growing Company

PF Growth Partners is the largest franchisee of Planet Fitness Clubs and employees over 450 people. They were named the top franchisee for the year of 2014 and also the top developer of the year during the same period. The top developer award was given based on the company’s opening of the most new clubs during the period. They also received the 2014 Brand Excellence Review for attaining the highest ratings for their clubs from their clients.

Franchise Friendly

GE Capital has been operating for 30years and has about $6 billion in assets. Franchise Finance is the company’s lending vehicle for the US franchise market and does so via direct sales and portfolio acquisitions. They specialize in restaurants and hospitality industries. They offer credit lines that allow franchisees to focus on expansions and to help them refinancing existing debt at much more attractive rates. They also have access to proprietary industry research and unique digital tools that are used to help their clients succeed.

Technicals

The stock broke above resistance at $25.75 and held steady above $26 showing good strength and internals. A move above $26.50 would be a high and an attempt at that could be imminent.

About the Author

Barry is a senior journalist at Us Markets Daily. He reports, shoots and edits many of his own stories by himself.

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