BOISE, Idaho--(BUSINESS WIRE)--In an effort to help current and new franchisees meet local growth demands, Bare Metal Standard has entered a partnership with Equipment Leasing Services, LLC for a $5 million line of credit. The credit facility will enable franchisees to finance equipment with a favorable TRAC (Terminal Rental Adjustment Clause) lease.
The TRAC lease that Equipment Leasing Services has drafted for Bare Metal Standard offers franchisees a lowered initial cost, 36 monthly payments and then one TRAC payment at the end of the 36 months. Because the TRAC lease drastically decreases the initial cost of the necessary equipment, the deal ultimately allows current franchisees a cost-effective way to extend their service offerings while also offering prospective franchisees a lower cost of entry to the franchise. Terms of the deal were agreed upon by James Bedal, Bare Metal Standard CEO, and Jeff Dallstream, Equipment Leasing Services, LLC Vice President of Sales.
“In mitigating commercial kitchen fires, Bare Metal Standard provides a needed service with the utmost professionalism, up-to-date processes, and experience that is unmatched by any of its competitors,” said Dallstream. “Making the decision to offer the TRAC lease and credit facility to its franchisees was not difficult once we factored in the need for its services and the decades of experience the leadership team provides. We look forward to working with current and future franchisees.”
Equipment Leasing Services differentiates itself from the crowd of equipment financing and leasing companies by providing individualized service to each client and effectively understanding their needs, goals, and individual situations. The company offers several financing options as well as convenient and efficient experience. By maintaining relationships with a variety of capital sources of funding and a variety of individual and institutional equity investors, it is able to offer a wide range of financing alternatives not always available from a single bank or finance company.
“As a franchisor, one of our top priorities is to create great partnerships that ensure our franchisees have access to the tools they need to keep up with local demand,” said Bedal. “Equipment Leasing Services has demonstrated its faith in Bare Metal Standard by making these funds available to our network on such favorable terms. We anticipate many franchisees utilizing this new option when starting their new business.”
ABOUT BARE METAL STANDARD
Bare Metal Standard mitigates commercial kitchen hazards through its proprietary service that leaves no flammable grease residue inside commercial kitchen exhaust systems, just bare metal. The franchise company offers its service at a competitive price and promises to always provide prompt, courteous, and professional service. What started as a small mom and pop company in 1964, The foundation of Bare Metal Standard have spent the last five decades perfecting its systems and processes and has grown into a 10-unit regional franchise. For more information call 888-471-1117 or visit http://baremetalstandard.com/.
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). Bare Metal Standard Inc. cautions that statements, and assumptions made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates made by management. Actual results could differ materially from current projections or implied results. Bare Metal Standard Inc. undertakes no obligation to revise these statements following the date of this news release.