MISSISSAUGA, ON, April 16, 2019 /CNW/ - CWB Franchise Finance (CWB), a division of CWB Financial Group, has provided a development line facility and a revolver loan to Shoeless Joe's Ltd. (Shoeless Joe's Sports Grill).
Shoeless Joe's is based out of Woodbridge, Ontario and is led by President Frank Lopreiato. They currently have 27 locations in Ontario, one in Saskatchewan, and one in Alberta. The funds will be used to assist with future new construction, acquisition, expansion, and renovation projects, as well as to support franchisee renovation and construction projects.
"We continually strive to meet our clients' short and long-term goals," said Dimitri Mazur, senior manager at CWB Franchise Finance's restaurant division. "The financing for Shoeless Joe's provides them with immediate access to funds for future projects over a three-year period, with approval and documentation completed upfront, so that they can pursue their next stage of growth. We have enjoyed working with Shoeless Joe's since 2014 and look forward to assisting them with their upcoming projects."
"We are thrilled with the opportunity we have to expand and refresh our locations," said Frank Lopreiato, President of Shoeless Joe's Ltd. "CWB was able to tailor financing not only specific to the restaurant industry, but specific to our operational and growth plans. They took the time to understand our needs, and their expertise and knowledge made for a rewarding experience."
About CWB Franchise Finance CWB Franchise Finance, a division of CWB Financial Group, specializes in financing for regional and national restaurants and hotels and is a leading lender to the Canadian restaurant and hospitality industries. Previously GE Capital Canada's franchise financing arm, CWB Franchise Finance was acquired by CWB Financial Group in 2016 following a successful track record of more than 800 clients with upwards of 1,525 property locations over 14 years. To date, more than $3 billion has been invested in the Canadian hotel and restaurant space. Learn more at www.cwbfranchise.com.
About CWB Financial Group CWB is a diversified financial services organization serving businesses and individuals across Canada. Operating from its headquarters in Edmonton, Alberta, CWB's key business lines include full-service business and personal banking offered through 42 branches of Canadian Western Bank and Internet banking services provided by Motive Financial. Highly responsive specialized financing is delivered under the banners of CWB Equipment Financing, CWB kNational Leasing, CWB Maxium Financial, CWB Franchise Finance and CWB Optimum Mortgage. Trust Services are offered through Canadian Western Trust. Comprehensive wealth management offerings are provided through CWB Wealth Management, which includes the businesses of McLean & Partners Wealth Management and Canadian Western Financial. As a public company on the Toronto Stock Exchange (TSX), CWB trades under the symbols "CWB" (common shares), "CWB.PR.B" (Series 5 Preferred Shares) and "CWB.PR.C" (Series 7 Preferred Shares). Learn more at www.cwb.com.
About Shoeless Joe's Sports Grill The very first Shoeless Joe's opened in Toronto in 1985. Since then, they have grown across Canada, with a total of 29 locations. Shoeless Joe's Sports Grill is all about celebrating sports and catering to family and friends, whether customers are celebrating their team's victory, or a child's big win. They are committed to delivering an outstanding guest experience through personalized service and a variety of signature items. Visit them online at www.shoelessjoes.ca
SOURCE CWB Franchise Finance
For further information: Ed Khediguian, Vice President, Franchise Finance, CWB Franchise Finance, (647) 465-0591, [email protected]; Frank Lopreiato, President, Shoeless Joe's Ltd., (905) 760-1295 x 2122, [email protected]