Casago Approved for the Proprietary, ApplePie Capital Core Loan, Unlocking Top-Tier Conventional Financing for Franchisees

• Top-tier lending unlocks up to 85% financing with no personal collateral required
• Approval fast-tracks Casago and Vacasa market acquisitions for new and existing franchisees
• Franchisees gain access to flexible 10-year terms and fast-track conventional funding options 

Casago, a premier vacation rental property management company, today announced that it is now eligible for the proprietary ApplePie Capital Core loan for both new and existing franchisees — only available to exceptional brands.

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This elite designation places Casago among a select group of franchise brands recognized for exceptional operational performance, unit economics, and franchisee support systems. It comes after Casago’s recent acquisition of Vacasa, expanding the company’s overall footprint and pipeline for market sales.

As a result of the approval, ApplePie Capital, an online lender dedicated exclusively to franchising, can now extend its most competitive financing terms to entrepreneurs and investors acquiring or expanding Casago markets, including those operated by Vacasa.

Qualified borrowers are now able to finance up to 85% of their total project budget, including working capital, without the need to provide personal collateral or demonstrate prior business ownership. In certain cases, liens can be applied only to the specific location or market being acquired, with no global refinancing requirements. The process is franchise-friendly, with streamlined underwriting that eliminates the need for a business appraisal and accelerates closing. The resulting 10-year loan terms offer both financial stability and flexibility, with no prepayment penalties, allowing franchisees to repay early without incurring additional fees.

Existing Casago franchisees can also take advantage of ApplePie’s Recap & Grow program, which provides generous borrowing capacity of up to 4.5× trailing 12-month EBITDA. This structure enables cash-out options and supports expansion into underperforming or not-yet-cash-flowing markets, opening the door for strategic growth across a broader national footprint.

“Securing access to the Core loan with ApplePie Capital strengthens our ability to support the right kind of strategic growth,” said Steve Schwab, CEO and Founder of Casago. “It gives both new and existing franchise partners access to the capital they need to grow sustainably, invest in service, and stay deeply rooted in their local communities, where hospitality is personal, and relationships matter most.”

Jamie Davis, CFE, Senior Vice President of Business Development at ApplePie Capital, added: “Our highest approval level recognizes brands with exceptional performance and support systems. Casago’s owner-centric philosophy, tech stack, and now national footprint set a new benchmark for hospitality franchise opportunities. We’re thrilled to provide tailored capital that helps their franchisees scale faster and more efficiently.”

This announcement follows the recent closing of Casago’s acquisition of Vacasa. By combining Casago’s relationship-driven, franchise-led model with Vacasa’s expansive property portfolio and technology infrastructure, the company is now uniquely positioned to scale its community-rooted hospitality offering nationwide.

About Casago

Casago is a top-rated vacation rental management company providing professional property management services for homeowners across North America, Belize, Costa Rica and the Caribbean. Founded in 2001 by former Army Ranger Steve Schwab, Casago has earned a reputation for delivering exceptional guest experiences and reliable property management services through a franchise-driven model. In 2025, Casago expanded its footprint by acquiring Vacasa, a leading vacation rental platform in North America. With a customer-centric approach, the combined company empowers local teams to provide personalized, responsive support for both homeowners and guests. Casago's commitment to quality is reflected in its industry recognition: it is the only property management company of its scale to be rated in the Top 1% by Comparent. Additionally, nearly 95% of U.S.-based local operating partners are Airbnb Superhosts, VRBO Premier Partners, or both.

About ApplePie

ApplePie Capital is an innovative financial solutions provider dedicated to franchising and has facilitated over $3 billion in loans to franchisees. ApplePie provides a wealth of financial choices for franchise entrepreneurs at every stage of their development, with diverse financing solutions, including conventional growth capital, equipment financing and SBA. ApplePie’s franchise finance experts are focused on matching clients with the right option at the right time, maximizing their efficiency and reducing the headaches of working separately across individual lenders.

For more information, visit www.applepiecapital.com.

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