IHOP Gets $15-Million Line of Credit From Bank
- Share via
Bank of America will provide IHOP Corp. with a $15-million line of credit under an agreement reached by the companies.
The new three-year credit line would replace an existing $4.7-million line of credit with another bank, said IHOP, the Glendale-based parent of the International House of Pancakes restaurant chain.
Under terms of the new credit line, $7.5 million is available for buying and developing restaurants and the balance is for general corporate purposes, IHOP said. IHOP, whose system currently includes 504 outlets, plans to open an additional 30 restaurants this year.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
