BoeFly analyzed the number of requests made by the more than 1,000 BoeFly bank members to make detailed reviews of over $500 million of loan requests posted to BoeFly by small business borrowers. BoeFly believes that its lender review requests are an important leading indicator of the types and characteristics of loans that banks are actively looking to make.
Three statistics illustrate the heightened interest that BoeFly bank members show for franchise lending opportunities:
•Franchise start-ups receive fifteen percent more lender requests than independent business start-ups
•Franchise owners looking for working capital loans receive 47 percent more lender requests than an independent business
•Franchise owners looking to refinance loans receive 18 percent more lender requests than an independent business
“BoeFly’s analysis confirms what we at the IFA have long maintained: that franchise loans are a lower risk alternative for business lenders,” said Steve Caldeira. “I’m gratified to see that BoeFly’s bank members clearly believe in the franchise business model as evidenced by their increased activity on franchise deals. BoeFly’
"The fact that BoeFly bank members show a strong interest in connecting with a franchise business is no surprise when you consider the methods, training and support franchise systems provide to their franchisees,”
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, 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 http://www.boefly.com.
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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