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ApplePie Capital franchise financing review

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Term loans and more for new and established franchisees in all 50 states.’s rating: 3.4 / 5.0


  • Best for funding large expenses for a franchise
  • Pick something else if you need under $100,000


Min. Amount


Max. Amount


Product NameApplePie Core business loans
Min. Amount$100,000
Max. Amount$10,000,000
Loan Term60 to 120 months
Min. Credit Score660
APR6.5% to 9%
RequirementsOperate an eligible franchise, 660+ credit score, personal assets to fully secure the loan, additional based on financing type

Expert review

Anna Serio

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 950 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

ApplePie Capital offers financing tailored to franchises with competitive rates that stop below where many other business lenders start. It directly funds loans for both new and established franchises and can help connect your business with an SBA lender or equipment financing.

But it’s ideal not for small expenses. Its loans start at $100,000 — and you’ll need strong personal credit and assets to qualify. Its connection service might not be worth it, since its broker fees are relatively steep.

Best of 2020
Finder experts pick ApplePie Core business loans as a 2020 best pick for business loans.

How much will this loan cost me?

ApplePie Capital loans came with rates from 6.5% to 9%, including an origination fee of 3.5% to 5% as of September, 2019. But weren’t able to verify if these rates, terms or any other details have changed since.

There are no prepayment penalties, so your franchise can save on interest by paying off the loan before its term of five to 10 years is up. You can borrow between $100,000 and $10,000,000. Use the calculator below to find out how much your loan might cost.

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How it works

Generally, only borrowers that have near-perfect credit and have been profitable years will get the most competitive rates and terms. On average, franchises qualify for APRs between 7% and 8%. But if you just barely meet the minimum requirements, you might expect a rate closer to 9%.

What do I need to 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 — only applicable to financing a new unit
  • Have a personal net worth equal to the loan amount
  • Be profitable for the past six months — only applicable to financing an existing unit

ApplePie Core requires you to put a lien on your business’s assets and a sign a personal guarantee. Franchise operators are also required to take out a temporary life insurance policy with ApplePie listed as the beneficiary.

What information do I need to apply?

The information 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
  • Pay stubs
  • List of your personal assets and liabilities

Typically, it takes about a week to gather all of the documents you’ll need to submit along with your application.

What industries does ApplePie Capital work with?

ApplePie Capital only works with the franchise industry. But it doesn’t specify if any specific types of franchises are ineligible. If your franchisor doesn’t currently have a partnership with ApplePie Capital, reach out to see if it’s eligible.

What other types of financing does ApplePie offer.

In addition to its core program, ApplePie also works as a connection service to help your business find term loans, SBA loan and equipment financing. It partners with over 50 SBA lenders, banks and other providers.

To use the connection service, 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 run as high as $5 million.

Pros and Cons

ApplePie Capital isn’t right for every franchise. It’s personalized service might be great for some, but it isn’t ideal if you need money right away.


  • Works with entrepreneurs
  • Specializes in franchises
  • Low maximum APR of 9%
  • Loans up to $10,000,000
  • Direct lender and connection service


  • New unit financing requires down payment
  • Turnaround as long as a month
  • Broker fee of $2,500
  • No loans under $100,000
  • Few customer reviews

Compare more business financing options

Data indicated here is updated regularly

Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK

Compare up to 4 providers

Is ApplePie Capital Legit?

Yes, ApplePie Capital is a legitimate lender. 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. Entrepreneur also named it “Top Franchise Supplier” in 2019.

It also takes steps to make sure that your information is safe. This includes using SSL encryption to protect any personal details you submit online.

Does ApplePie Capital get good customer reviews?

BBB accredited Yes
BBB rating A+
BBB customer reviews 1 out of 5 stars, based on 1 customer reviews
Customer reviews verified as of 14 May 2020

Not exactly. It only has one negative review on the Better Business Bureau (BBB) — and none on Trustpilot or other similar forums. This doesn’t necessarily mean anything, as customers often only write reviews when they have a very negative or positive experience. But it makes it hard to know what kind of customer experience to expect.

How do I apply?

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

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

What happens after I apply?

Submitting your application alone can take a week. After that, you’ll be in contact with ApplePie to verify information on your application and submit documents.

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.

How do repayments work with ApplePie?

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.

See how other financing options for franchises stack up, or compare other business loans.

Frequently asked questions

Business loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate business loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.

Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.

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