MISSISSAUGA, ONTARIO--(Marketwired - June 9, 2017) - CWB Franchise Finance, a division of CWB Financial Group, has provided a $12 million term loan and Development Line of Credit to Donnelly Group, owners of 14 pubs and cocktail bars in Vancouver and Toronto. The funds will be used to consolidate and refinance existing corporate debt and support future growth.
"Working with established, driven clients like Jeff Donnelly is what we do best," said Jacob Mancini, Senior Manager of CWB Franchise Finance's restaurant division. "We take great pride in identifying and working with the management teams of established, professional restaurant groups that have a strong regional focus and desire for growth and evolution of their business."
"We've seen great success by staying true to our original concept and we're excited to bring that to new markets in 2017 and beyond," said Jeff Donnelly, President of Donnelly Group. "The long-term and flexible nature of CWB Franchise Finance's Development Line of Credit will help us to act faster on opportunities to grow our roster of trend-setting public houses, cocktail taverns, and barbershops."
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 have been invested in the Canadian hotel and restaurant space.
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, National 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).
About Donnelly Group
Donnelly Group is an award winning and diversified hospitality company, operating in both Vancouver and Toronto, with continued expansion plans this year. Donnelly Group establishments include Vancouver's Cinema, The Lamplighter, Library Square, Tavern, The Bimini, The Blackbird, The Butcher & Bullock, The New Oxford, The Three Brits, The Railway Stage & Beer Cafe, Clough Club, Granville Room, and Royal Dinette along with Belfast Love and Gift Shop in Toronto. Additionally, the company operates six Barber & Co. locations in Vancouver and Toronto.