--- title: "Multi-Unit Carl's Jr. Operator Secures Loan for Remodeling & Growth" url: https://burnaze.com/article/ee3994e9-9cc2-48fd-bcdb-105f2667188b source: "Franchising.com" original_url: https://www.franchising.com/articles/multiunit_carls_jr_operator_secures_loan_for_remodeling__growth.html author: "Multi-Unit Franchisee" category: "QSR" industry: "Restaurants" segment: "QSR" topics: ["Finance & M&A","Development & multi-unit"] published: 2018-05-30T08:00:00.000Z modified: 2026-11-01T03:02:42.067Z image: https://imgs.franchising.com/art/articles/3896_plate.jpg --- # Multi-Unit Carl's Jr. Operator Secures Loan for Remodeling & Growth **TL;DR:** Friendly Franchisees, a Carl's Jr. multi-unit operator, has secured a $25 million loan from CIT Group to support restaurant remodeling and growth. The company has more than 70 locations throughout the Los Angeles and San Francisco markets. *By Multi-Unit Franchisee, originally published in Franchising.com on 2018-05-30. [Read the original](https://www.franchising.com/articles/multiunit_carls_jr_operator_secures_loan_for_remodeling__growth.html).* ## Story Friendly Franchisees is one of the largest Carl's Jr. franchise operators in the country with more than 70 locations throughout the Los Angeles and San Francisco markets. Last week the La Paloma, California-based company inked a deal with CIT Group's Franchise Finance team for a $25 million loan to "support restaurant remodeling, debt refinance, other corporate purposes," according to a statement issued by the finance company. "We were pleased with the expertise and flexibility that CIT demonstrated as we worked to successfully close this financing agreement," said Harshad Dharod, founder and president of Friendly Franchisees. "CIT's deep knowledge of the franchise industry was a valuable asset throughout the process." Dharod is a longtime franchisee with more than 34 years of experience in the restaurant industry. "We are proud to work with a successful organization like Friendly Franchisees to provide the financing they need to continue to grow and prosper," said Michael Vallorosi, managing director of the Franchise Finance business. "Franchisees frequently turn to CIT for the financial solutions that help their businesses remodel, expand or grow through acquisition." - Get Started in Franchising - Franchise Rankings & Awards - Franchise Sales & Development - Featured Franchise Stories Franchising.com is produced by Franchise Update Media. Franchise Update Media has its finger on the pulse of franchising with unrivalled audience intelligence and market driven data. No media company understands the franchise landscape deeper than Franchise Update Media. 1201 New York Avenue NW, Suite 300A Washington, DC 20005 PH. (408) 402-5681 - Franchisee Financing & Lending - Site Selection & Real Estate - Supply Chain & Procurement - Annual Franchise Development Report - Multi-Unit Franchising Conference - Franchise Growth & Marketing Conference - Franchise Leadership & Development Conference - Multi-Unit Franchisee Magazine - Franchise Update Magazine - Franchise Update Franchisor Report - Franchising Express Report - International Franchise Report - Multi-Unit Franchisee Report The multi-unit franchise opportunities listed above are not related to or endorsed by Multi-Unit Franchisee or Franchise Update Media Group. We are not engaged in, supporting, or endorsing any specific franchise, business opportunity, company or individual. No statement in this site is to be construed as a recommendation. We encourage prospective franchise buyers to perform extensive due diligence when considering a franchise opportunity. ## Entities - Franchising.com (publication) - Restaurants (sector) - growth strategy (topic) - Multi-Unit Franchisee (person) - Carl's Jr. (company) - multi-unit operator (topic) - restaurant remodeling (topic) - Friendly Franchisees Corporation (company) - Harshad Dharod (person) - loan financing (topic) --- Originally reported by Multi-Unit Franchisee, Franchising.com (https://www.franchising.com/articles/multiunit_carls_jr_operator_secures_loan_for_remodeling__growth.html). Summarized by Burnaze (https://burnaze.com/article/ee3994e9-9cc2-48fd-bcdb-105f2667188b).