Edible Arrangements partners with Direct Capital to fuel U.S. expansion

Wallingford, Conn. Edible Arrangements has selected Direct Capital, a national direct lender, as the exclusive preferred finance company for the brand. The expanded lending program was developed in response to capital needs to support growth initiatives in 2010 and beyond and will be used for single and multi-unit development of new stores, store remodels and equipment purchases.

This announcement comes on the heels of Direct Capital's expansion of their franchise lending unit after securing $100 million from Key National Finance and other conduits and banks in April, and renewing an additional $100 million line from DZ Bank.

Currently, Edible Arrangements has 929 locations with the goal to reach 1,000 units by 2010. Most recently, the company announced the launch of its new "core and station" store enterprise development program and the company's evolution into multi-unit franchising.