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ApplePie Capital franchise financing review

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Term loans and more from $100,000 to $2,000,000 for franchise operators in all 50 states.

Running a franchise, you know that your business works a bit differently than others. While you get to benefit from a tried-and-true business model, you’ll need to foot the startup costs and any funds to expand. Though ApplePie Capital might not be that helpful with starting a franchise, it can help when you need to grow. This lender provides funds itself from $100,000 to $2,000,000 and can also connect you with banks and SBA lenders to get the financing your business needs.


Min. Amount


Max. Amount


Product NameApplePie Core loan
Min. Amount$100,000
Max. Amount$2,000,000
Loan Term5 to 7 years
RequirementsOperate an eligible franchise, 660+ credit score, able to put down 20% down payment, enough personal assets to fully back loan, profitable for the past six months

First, do I qualify?

To be eligible for financing with ApplePie, you must meet the following criteria:

  • Operate an eligible franchise.
  • Have a personal credit score of 660 or higher.
  • Be able to make a 20% down payment.
  • Have a personal net worth equal to the loan amount.
  • Be profitable for the past six months.

What is ApplePie Capital?

ApplePie Capital is a direct online lender that can also connect franchise operators with financing from its network of over 50 partner banks, SBA lenders and equipment financing providers. Its direct lending program is called Apple Pie Core.

Here, your franchise can apply for a secured term loan from $100,000 to $2,000,000. These are backed by a UCC lien on your business’s assets and require a 20% down payment. Franchise owners and operators are also required to sign up for a temporary life insurance policy with ApplePie Capital as the beneficiary.

ApplePie Core APRs start at 6.5% and can get as high as 9%, though on average franchises qualify for APRs between 7% and 8%. This includes an origination fee of 3.5% to 5% of the loan amount. There are no prepayment penalties, so your franchise can save on interest by paying off the loan before its term of five to seven years is up.

Looking for a different type of financing? You can also apply through ApplePie to get SBA, equipment financing and more. It partners with over 50 SBA lenders, banks and other providers. Here, ApplePie charges a broker fee of $2,500 on top of the other loan fees from your lender. SBA loans also come with a guarantee fee of 2% to 3% of the loan amount. SBA loans can get as high as $5 million.

What makes ApplePie Capital franchise financing unique?

ApplePie Capital is one of the few lenders out there that specializes in meeting franchise needs. It’s a member of the International Franchise Association (IFA), a trade organization that works to advocate, educate and promote excellence for franchises in the US.

Aside from getting financing tailored to your business’s specific needs, ApplePie’s Core loan also comes with competitive rates, which stop below where many other business lenders start.

What are the benefits of ApplePie Capital franchise financing?

  • Financing for franchises. While franchises can qualify for business loans from many lenders, its rare to find a lender that specializes in franchises’ unique needs.
  • Competitive rates. With APRs stopping at 9%, ApplePie Capital offers some of the lower rates out there for a business lender.
  • Large amounts available. Your franchise can qualify for as much as $2,000,000 if you apply for a direct loan and up to $5 million if it’s eligible for an SBA loan.
  • Get a direct loan or get connected. With ApplePie, you can choose from applying directly with your lender or getting connected with a partner lender.

What to watch out for

  • Not friendly to startups. Your business needs to be cashflow positive for the past six months to qualify.
  • Requires a down payment. ApplePie Core requires a 20% down payment on its term loans.
  • Long turnaround. It can take more than a month to get your funds, meaning it isn’t ideal financing for emergency costs.
  • Broker fee. You’ll have to pay ApplePie Capital a broker fee of $2,500 to get connected with a partner lender — on top of the lender’s standard fees.

Compare more business financing options

Updated October 19th, 2019
Name Product Filter Values Min. Amount Max. Amount Requirements
Annual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.
Customizable loans with no origination fee for business owners in a hurry.
6+ months in business, $100,000+ annual revenue, 600+ credit score, not based in North Dakota or South Dakota
Get a predictable business loan with a fixed weekly rate.
2+ years in business, 620+ credit score, not a sole proprietorship or nonprofit, strong financial history
Financing for high-risk industries with transparent rates and terms.
600+ personal credit score, 1+ years in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Your company must have been in business for at least 6 months and have an annual revenue of at least $100,000.
Get a large business loan to cover your financing needs, no matter what the purpose is. Startups welcome with 680+ credit score.
1+ years in business, $50,000+ annual revenue or $4,200+ monthly revenue over last 3 months
A simple, convenient online application could securely get the funds you need to grow your business.
Varies by lender and type of financing
Varies by lender and type of financing
Varies by lender, but many require good personal credit, minimum annual revenue and minimum time in business
Multiple business financing options in one place including: small business loans, lines of credit, SBA loans, equipment financing and more.
1+ years in business, $10,000+ monthly revenue
Apply online and get approved within hours with minimal paperwork. Multiple financing options available.
Must operate a business in the US or Canada, have a business bank account and have a personal credit score of 560+.
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
Credit score of 500+, legal US resident and ages 18+.
Use this connection service to get paired with a loan you can use for business.

Compare up to 4 providers

What does the Internet say about ApplePie Capital?

Almost nothing. ApplePie Capital gets an A+ rating from the Better Business Bureau (BBB), which it’s been accredited with since 2015. But ratings are based on business practices like transparency in advertising and responses to customer complaints, not reviews. In fact, there are no reviews on its BBB page as of September 2018.

ApplePie Capital also doesn’t have a Trustpilot page, and we weren’t able to find any comments in online forums. This isn’t necessarily a bad sign, but it isn’t good either. If customer service is a top priority, you might want to consider a lender with more online reviews.

How do I apply?

You can apply for a loan through ApplePie Capital online or by calling 800-720-0241.

First confirm you meet the eligibility requirements to qualify for a loan through the ApplePie Core program.

Keep in mind that ApplePie Core requires both a lien on your business’s assets and a personal guarantee. Franchise operators are also required to take out a temporary life insurance policy with Apple Pie listed as the beneficiary.

Steps to apply

Here’s how to apply online:

  1. Go to ApplePie Capital’s website and click Get Started.
  2. Fill out the required fields with information about you and your franchise. Read the disclosures, then hit Next.
  3. Fill out the short form about your personal financial information and click Submit Inquiry.
  4. Wait for an ApplePie Capital representative to get in touch with you and discuss your options.
  5. Log in to your account and fill out an additional form with your and your business’s assets, as well as your personal information.
  6. Go over your application with an ApplePie Capital representative. Discuss your franchise’s loan options and find out what documents and additional information you need to submit.
  7. Submit required documents and information.
  8. Review and sign your loan documents.

Submitting your application can take a week. After that, it takes an average of 30 to 45 days to receive your funds. If you’re applying for a loan through the SBA program, it can take between two and four months.

What documents do I need to apply?

The documents you’ll need varies widely depending on your franchise, personal assets and what type of financing you’re applying for. You might expect to be asked for some or all of the following:

  • Business and personal bank statements
  • Business and personal tax returns
  • Franchise agreement
  • Balance sheet
  • Profit and loss statement
  • Your most recent pay stub
  • A document detailing your personal assets and liabilities
  • A down payment of 20%

Typically, it takes about a week to gather all of the documents you’ll need.

I got financing from ApplePie Capital. Now what?

What happens next depends on what type of financing you get. ApplePie Core loans come with monthly repayments — and so do most bank and SBA loans of that size. Whichever lender you go with, consider asking if you can sign up for automatic repayments. Then you won’t have to take time out of work to make them each month.

Check your bank account and your loan balance regularly. If your business can afford to make additional payments, you can save on interest. And if you notice anything wrong, reach out to your lender as soon as you can.

Bottom line

If you’re a franchisee looking for financing tailored to your specific business model, ApplePie Capital might be a good fit. But you’ll need strong personal credit and assets to qualify. And its connection service might not be worth it since its broker fees are relatively steep.

Visit our guides to learn more about financing options for franchises or business loans in general.

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