Bridge business lending marketplace and Chipotle Mexican Grill partner to help increase access to capital for Chipotle's supplier base through network of over 75 lenders, including 20+ diverse financial institutions.
Platform Will Help Increase Access to Capital for Chipotle's Supplier Base through Network of over 75 lenders, Including 20+ Diverse Financial Institutions
NEWPORT BEACH, Calif. and CHARLOTTE, N.C., Dec. 7, 2023 /PRNewswire-PRWeb/ -- Chipotle Mexican Grill and Bridge are uniting to offer the Bridge business loan marketplace to Chipotle's small- and medium-sized businesses (SMBs) in their supplier network. Bridge is a digital platform that connects SMBs with a diverse group of more than 75 lenders that can provide qualifying businesses with loans of up to $50 million.
Through a single loan request, Chipotle SMBs can connect with an extensive group of lenders located across the United States. Once a request is submitted, the platform seamlessly connects suppliers with multiple potential lenders that can evaluate their requests. This allows for a more efficient loan process for both the suppliers and lenders and encourages suppliers by offering them greater choice, convenience, and access to capital. It also provides lenders with the potential to expand their reach beyond their immediate local market and diversify their lending businesses.
Chipotle has taken significant efforts to boost supply chain sustainability and maintain close ties to suppliers. "The Bridge platform provides our suppliers with crucial access to the capital they need to expand their operations. To achieve our long-term target of 7,000 restaurants in North America, we'll need our partners to be able to scale and continue growing, harvesting and supplying the high-quality real ingredients that Chipotle serves," says Jack Hartung, Chief Financial and Administrative Officer at Chipotle.
Bridge was developed to provide more inclusive access to capital while supporting innovative, digital-first solutions for SMBs. "Many small and medium-sized business owners don't have a network of existing bank relationships – let alone multiple options to choose from when it's time to grow," said Rohit Mathur, CEO of Bridge. "The Bridge marketplace offers a way to streamline the lending process for Chipotle's suppliers, open those doors and help them get what's needed to grow their business." The Bridge team also assists businesses throughout, letting them know what to expect and how to prepare for the lending process.
Note: Neither Chipotle nor Bridge have any influence in lending decisions, nor do they participate as lenders on the platform.
About Chipotle:
Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. Chipotle had over 3,300 restaurants as of September 30, 2023, in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant
company of its size that owns and operates all its restaurants in North America and Europe. Chipotle is ranked on the Fortune 500 and is recognized on the 2023 list for Fortune's Most Admired Companies and Time Magazine's Most Influential Companies. With over 110,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. For more information or to place an order online, visit WWW.CHIPOTLE.COM.
About Bridge (a Foro Company)
Bridge empowers businesses seeking commercial loans on their terms by connecting them with the right lenders. Leveraging data and insights, the platform meets the personalized needs of both businesses and lenders, delivering a streamlined, cost-efficient, and transparent way to build equitable relationships.
Additional information may be found at chipotle.bridgemarketplace.com LinkedIn: www.linkedin.com/company/bridgemarketplace
Media Contact:
Lauren Gomez VP, Marketing Bridge
Media Contact
Lauren Gomez, Bridge, 1 (980) 346-6668, [email protected], www.bridgemarketplace.com
SOURCE Bridge
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