Seva Salons Selects Boefly To Assist Its Franchisees In Obtaining Bank Financing

April 20, 2011 - PRLog -- NEW YORK, NY  BoeFly, the premier online marketplace connecting lenders with business borrowers, announced today that Seva Salons, the leading beauty salon exclusively located in Walmart stores has selected BoeFly to assist its franchisees in obtaining bank financing.

Nearly half (49.2%) of the respondents in a recent survey by the International Franchise Association (IFA) of its members identified “financing/access to credit” as the top issue of concern to franchise business leaders.    In response to this concern, and bolstered by its success in helping many individual franchisees obtain financing, Boefly created a portfolio of services for the franchisor market.   Through BoeFly, they can offer their franchisees access to a network of lenders through the posting of a single loan request on BoeFly’s Internet-based loan exchange, assistance in creating an effective loan request, and support managing lender inquiries.   BoeFly uses proprietary matching technology to connect franchisees with lenders that their loan package meets specific lending criteria for, increasing franchise revenue by helping franchisees connect with the capital they need to open their businesses.

Seva Salon is a national beauty salon franchise that specializes in eyebrow shaping, hair removal and nails, and is exclusively located in Walmart stores nationwide.  “BoeFly is an important part of our expansion strategy,” said Vas Maniatis, Managing Member of Seva Salons. “Many of our potential salons are located in rural areas that offer fewer banking options.   BoeFly gives our franchisees easy access to a nationwide network of lenders who we believe will understand and appreciate our franchise concept.”

“Today even top franchisors face a significant challenge – converting otherwise qualified franchisee candidates into ongoing, paying customers because of the difficulty they have accessing capital” said David Nayor, President of BoeFly.  “Franchise lending has been down by as much as 40% in the past two years due in part to the inefficiencies in the lending process that have been exposed by the financial crisis.   BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend.”

About Seva
Seva began as Simply Eyebrows! in 2008, when it opened its first location inside the Lafayette Square Walmart in Indianapolis, IN with a limited service offering of threading and eyelash extensions. Since then, it has grown to over 25 locations nationwide with offerings that include brow shaping and facial hair removal by threading and waxing, full nail services including acrylics and gels, full spa services including body waxing and facials, eyelash extensions, henna tattoos, and much more! In mid-2010 Seva launched its nationwide rollout as an exclusive partnership with Walmart, looking to offer its customers the One-Stop-Shopping experience they’ve come to love!

About BoeFly
BoeFly is the only online marketplace harnessing technology to dramatically simplify the execution of commercial transactions, including all loan origination and sales. BoeFly revolutionizes how deals get done by seamlessly connecting all parties, including lenders, borrowers, franchisors, investors, buyers and sellers to a potential transaction and facilitating the efficient completion of these transactions. For small business lenders, BoeFly also provides the ability to sell loans to investors freeing up liquidity for even more small business lending.  BoeFly is a subscription service and does not charge any transaction fees.
Key to the success of BoeFly is the site's dynamic compatibility technology which matches parties based on a specific set of criteria. Also, to help BoeFly subscribers complete transactions, BoeFly offers access to service providers in a wide variety of professions from appraisers, to closing attorneys, to environmental consultants.
BoeFly was founded by small business lending experts with extensive banking and secondary market experience. The company is privately-held and is based in New York City. www.boefly.com.    Franchisors seeking to grow revenue by increasing the number of successfully financed franchisees please visit www.boefly.com/franchisor.

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BoeFly connects small business borrowers, franchisors, and lenders online to facilitate the process of small business lending. For more information please visit http://www.boefly.com