Sovereign Widens Franchise-Lending Focus

Philadelphia Bizjournals:

Sovereign Bank said Wednesday it was expanding its franchise-lending operations in the Midwest and Southwest.
The bank said its Franchise Lending Group — based in Worcester, Mass. — finances restaurant development, purchases, refinancings and remodels for franchisees.
The group now has satellite offices in Chicago; Dallas; Iselin, N.J.; Manchester, N.H.; and Waterbury, Conn.

The bank is part of Sovereign Bancorp Inc. (NYSE: SOV) of Wyomissing, Pa.