Yum Brands’ Underrepresented Franchisees Are Part of a New $50M Financing Program

Rhea-AI Summary

Yum! Brands announces a new financing initiative called Franchise Fast Start in partnership with investment firm Lafayette Square, aimed at lending up to $50 million to underrepresented franchisees. This program seeks to enhance diversity within the company's franchise ownership and supports both new and existing franchisees. Wanda Williams, head of Yum! Global Franchising, emphasized the importance of diverse ownership, stating that the initiative aims to level the playing field in franchising, benefiting both franchisees and communities. The program aligns with Yum's goal of becoming the preferred multi-brand franchisor globally.

Positive

• Launch of Franchise Fast Start program to enhance diversity in franchise ownership.
• Investment of up to $50 million to support underrepresented franchisees.
• Strengthens Yum's positioning as a diverse and inclusive franchisor.

Negative

• None.

NORTHAMPTON, MA / ACCESSWIRE / April 18, 2023 / Yum! Brands

Originally published by Nation's Restaurant News on nrn.com

By Alicia Kelso

Investment firm Lafayette Square has signed an agreement with Yum Brands to lend up to $50 million to new and existing underrepresented franchisees in the restaurant company's system. The deal is part of a new financing program called Franchise Fast Start.

"This program is another step toward our goal of becoming the world's multi-brand franchisor of choice which strives to create a global franchise system as diverse as the communities we serve," Wanda Williams, head of Yum! Global Franchising, said in a statement. "Our communities and the industry benefit from diversity of ownership and thought, and Franchise Fast Start will help level the franchising playing field and break down barriers for underrepresented people to become franchise owners."

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SOURCE: Yum! Brands

View source version on accesswire.com:
https://www.accesswire.com/749831/Yum-Brands-Underrepresented-Franchisees-Are-Part-of-a-New-50M-Financing-Program

FAQ

What is the Franchise Fast Start program by Yum?

The Franchise Fast Start program is an initiative by Yum! Brands aimed at lending up to $50 million to support new and existing underrepresented franchisees.

How much funding is available for underrepresented franchisees?

Yum! Brands, in collaboration with Lafayette Square, has allocated up to $50 million for underrepresented franchisees.

Who is partnering with Yum! Brands for the financing program?

Investment firm Lafayette Square has partnered with Yum! Brands for the Franchise Fast Start financing program.

What are the goals of the Franchise Fast Start program?

The goals are to enhance diversity in franchise ownership and support underrepresented individuals in becoming franchise owners.