Online lending has seen a bumper crop of companies sprout in the last several years as technology has enabled risk and underwriting models to become faster, decisions to be made more quickly and new options to emerge in small business financing.
Specialized lenders come together with specialized end markets, and in the last several months, the franchise industry has also seen the creation of its own marketplace lender, ApplePie Capital.
The company has been on a growth trajectory since raising $6 million in Series A capital last year, along with debt commitments of tens of millions of dollars. The firm has been partnering with several franchises along the way, most recently announcing partnerships with nine more franchises late last month, including Dunkin’ Donuts, Genius Kids and several others, across 9,000 small businesses and now sporting a roster that has 32 brands. The loans stretch across five to seven years, starting at $100,000. Loans are then sold both as whole loans to institutional investors as well as, fractionally, to qualified individual investors.