San Francisco-based ApplePie Capital raised $6.5 million in a Series C round and reached an agreement with First Internet Bank to purchase $100 million in ApplePie loans made to franchisees.

ApplePie is enjoying dramatic growth, recently surpassing $1.25 billion in loans originated to franchisees of more than 200 franchise brands since it began lending in 2015. That includes more than $330 million in Paycheck Protection Program loans ApplePie made, working with Cross River Bank and other partners to lend through the SBA relief effort.

ApplePie’s cumulative loan-loss rate is 1.6% since 2015. That’s not a typo.

When it comes to multi-unit expansion, access to the right capital, at the right time, with the right financial partner can be a game-changer in ensuring success. With a fresh approach to franchise financing—and the only lender dedicated to the industry—ApplePie Capital knows franchising and understands the unique needs of franchisees at every stage of growth.

“When someone comes to us, the first thing we want to know is what their plans are for growth, and for succession or exit,” says Ron Feldman, ApplePie’s Chief Development Officer. “Your exit plan – how long you want to run these units – can affect what kind of loan you get.”

ApplePie’s teams are brand specialists. Armed with well-defined goals and a snapshot of your financial picture and operations, ApplePie takes a consultative approach to create and execute a custom multi-unit financing strategy that ensures development stays on track.