Franchise industry online lender ApplePie Capital has appointed Ronald Feldman to the role of chief development officer. His duties include growing ApplePie’s brand portfolio and assisting with product strategy.
Mr.Feldman has more than two decades of experience with franchising. He was chief development officer at market research firm FranData and was cofounder and principal of both Franchise America Finance and The Siegel Financial Group. Mr. Feldman is also on a committee, the board, and executive committee of the International Franchise Association.
“ApplePie is uniquely positioned to transform franchise finance by using technology and franchise data in new and innovative ways to make financing simple and predictable,” Mr. Feldman said. “They also truly understand what drives growth and work backwards from the needs of franchisors to develop custom solutions for their franchisees.”
ApplePie also acquired FundingSolutions, a national franchise lending consultancy specializing in SBA, conventional and equipment finance loans. Funding Solutions managing partner Randy Jones joins Mr. Feldman on ApplePie’s leadership team.
Mr. Jones, who becomes ApplePie’s head of originations, said the two companies are a natural fit.
“Our team couldn’t be more excited to join ApplePie. Their values are aligned with ours, their franchisor-centric approach to doing business mirrors our own, and by combining forces and leveraging their technology and access to capital markets, we can provide a superior experience for the franchisors and franchisees we serve.”
Customers will notice a difference, ApplePie cofounder and CEO Denise Thomas said.
“In addition to the decades of franchise finance experience we are bringing on board to accelerate new product innovation, we can now provide comprehensive lending programs to franchisors, eliminating the need for their franchisees to engage with multiple lenders. By combining the $500 million in committed capital we’ve raised for our core growth product with a diverse lender network, we can ensure that our franchisee clients have access to the right financial solutions, wherever they are in their development cycle.“
ApplePie has partnerships with 43 brands, including Jimmy John’s and Jersey Mike’s. They have funded more than $65 million in loans and returned more than $12 million in principal and interest to investors.