Del Taco Selects Boefly To Assist Its Franchisees In Obtaining Bank Financing

May 19, 2011 - PRLog -- New York, NY - BoeFly, the premier online marketplace connecting lenders with business borrowers, announced today that Del Taco, a quick serve restaurant chain that specializes in made-to-order Mexican food, 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, franchisors 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 for which their loan package meets specific lending criteria, thereby increasing franchise revenue by helping franchisees connect with the capital they need to open their businesses.

For more than 40 years, Del Taco has been offering menu items that appeal to a broad range of tastes with a strong emphasis on quality and value. Del Taco has more than 525 restaurants and serves more than 3.5 million customers each week.  The company recently announced expansion plans for Colorado, Utah, Orlando, Florida, and Texas with the anticipation of opening nearly 80 restaurants throughout the Dallas/Ft. Worth market with a combination of company-owned and franchise locations. Del Taco will open five franchise locations and three additional company restaurants in the Dallas area in the next 12 months.

“BoeFly will provide a valuable service for our franchisees to help them secure the capital they need to expand.  Through BoeFly, our franchisees will find it much easier to access a network of lenders nationwide who understand the franchise industry. We look forward to the partnership and how it will help our franchisees pursue their expansion plans,” said Steve Brake, CFO of Del Taco.

“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 Mike Rozman, 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 Del Taco

For more than 40 years, Del Taco has been offering menu items that appeal to a broad range of tastes with a strong emphasis on quality and value.  Del Taco’s menu features a wide variety of Mexican items including tacos, burritos and quesadillas and an American menu featuring burgers, fries and shakes.  Del Taco has more than 525 restaurants in 18 states. Fore more information, visit www.deltaco.com.

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 and comprehensive Smartform loan application which matches parties based on a specific set of criteria. Also, to help BoeFly subscribers complete transactions, BoeFly offers online 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. http://www.boefly.com.    Franchisors seeking to grow revenue by increasing the number of successfully financed franchisees please visit http://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