Primrose Schools Franchise Circumvents Credit Crunch With Innovative Financing Solutions

Primrose School Franchising Company announced today that it has secured financing for 30 new franchise owners to open 14 new private preschools in the past 5 months, since bringing on seasoned franchise finance professional John Teat to its team.

Teat, Managing Director of Franchise Finance for Primrose Schools, was recently brought on to support continued growth of the franchise system through sourcing and maintaining reliable lending solutions for new and existing franchise owners. No stranger to Primrose Schools, Teat managed the Primrose Schools portfolio as a Sr. Regional Account Manager at CIT, SBL for the past 17 years. In that role, he assisted with the financing for more than 90 percent of Primrose Schools.

“Although the economy has shown some signs of improvement, the credit crunch still exists, and it continues to be challenging for small business owners to secure financing from traditional sources,” said Darin Harris, Chief Operating Officer for Primrose Schools. “We had a pool of prospective and existing owners seeking to open a new Primrose School. Since John came on board, he has been instrumental in helping us close multiple deals through alternative funding sources.”

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