Originally published by Nation’s Restaurant News on nrn.com
By Alicia Kelso
Investment firm Lafayette Square has signed an agreement with Yum Brands to lend up to $50 million to new and existing underrepresented franchisees in the restaurant company’s system. The deal is part of a new financing program called Franchise Fast Start.
“This program is another step toward our goal of becoming the world’s multi-brand franchisor of choice which strives to create a global franchise system as diverse as the communities we serve,” Wanda Williams, head of Yum! Global Franchising, said in a statement. “Our communities and the industry benefit from diversity of ownership and thought, and Franchise Fast Start will help level the franchising playing field and break down barriers for underrepresented people to become franchise owners.”
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