Bank / Credit Union

First Internet Bank partners with ApplePie to offer financing solutions for franchisees

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November 3, 2021

First Internet Bank, a subsidiary of First Internet Bancorp, has partnered with ApplePie Capital, a franchise loan marketplace, to offer a loan purchase agreement for franchisees. Under this agreement, First Internet Bank will purchase $100 million of ApplePie's Core conventional loans, according to a press release.

"As a lifelong entrepreneur, I know the value of working with a bank that understands the challenges and rewards business owners face," David Becker, chairman and CEO of First Internet Bank, said in the release. "First Internet Bank is committed to providing small business owners access to holistic financial services and thoughtfully designed digital experiences. We are excited to join forces with ApplePie to help provide franchisees with the unique financing solutions they need to succeed."

ApplePie sources franchisee lending opportunities for new franchise locations, remodels, refinances, equipment and more.

"ApplePie started with a really simple idea — making it easier for the best franchise brands and their franchisees to access the capital they need to grow," Denise Thomas, CEO and co-founder, ApplePie, said in the release. "And since 2015, we've done just that, with over $1.25 billion dollars funded across 200-plus franchise brands. This agreement helps ApplePie continue our mission while also providing First Internet Bank with quality credits in proven businesses."