GE Capital today announced it is providing a $45 million credit facility
to YouFit, LLC., a chain of fitness clubs. The facility will be used to
support the company’s future growth plans and for general working
capital needs.
YouFit is headquartered in Deerfield Beach, FL, and has more than 75
locations in 13 states. YouFit provides customers with budget-friendly,
month-to-month membership options. They are also committed to
sustainability, outfitting gyms with energy-efficient choices and
recycled materials.
“As we expand into new markets and support our existing locations, we
needed a lender who could provide us with both financing and expertise,”
said Rick Berks, founder and CEO of YouFit. “GE Capital offers us both,
which will help us realize our growth plans.”
“Our financial solution will help YouFit with their short- and long-term
business goals,” said Bob McCarrick, chief commercial officer—lending at
GE Capital, Corporate Finance. “Additionally, we are excited to provide
access to insight and expertise from the greater GE network to the
YouFit team, which we feel will help their company reach the next level
of success.”
About GE Capital, Corporate Finance
GE
Capital, Corporate Finance provides asset-based, cash flow and
structured loans and leases to mid-size and large U.S. businesses
expanding in North America, Asia and Europe. Financing supports working
capital, growth, acquisitions, turnarounds and balance sheet
optimization in key sectors: aerospace; automotive and transportation;
chemicals and plastics; construction and building products, corporate
aircraft; oil and gas; food and beverage; manufacturing; marine; metals
and mining; paper, packaging and forest products; retail; and technology
and electronics. With Access GE, clients also benefit from access to
GE’s best practices to help build their business. Visit geccf.com/newsroom
or follow @GELendLease
on Twitter.
GE Capital offers businesses around the globe an array of financial
products and services. For more information, visit gecapital.com
or follow company news via Twitter (@GECapital). GE (NYSE:GE) works on
things that matter. The best people and the best technologies taking on
the toughest challenges. Finding solutions in energy, health and home,
transportation and finance. For more information, visit ge.com.
Copyright Business Wire 2014