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Pearle Vision Selects Boefly To Assist Its Franchisees In Obtaining Bank Financing

BoeFly connects the franchisees from many of the nation's leading franchisors to over 1000 BoeFly member banks nationwide

 
PRLog - Aug. 18, 2011 - NEW YORK -- New York, NY - BoeFly, the premier online marketplace connecting lenders with business borrowers, announced today that Pearle Vision, North America’s largest optical franchise, has selected BoeFly to assist its franchisees in obtaining bank financing.

Through BoeFly, Pearle Vision will now offer its franchisees: convenient 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 whose loan packages meet the franchisee’s specific financing needs for business growth and maintenance projects such as new store development, store remodels and upgrades, equipment purchases, and working capital.

“We think Pearle Vision will greatly benefit from BoeFly’s services, which will provide our existing franchisees and our new franchise candidates with easier access to financing,” said Michael Weaver, Senior Manager of Financial Services for Pearle Vision.   “BoeFly’s online platform makes it especially simple for franchisees to find the right lender for their needs and helps Pearle Vision strengthen its franchise community.”

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.  

“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 Pearle Vision
Pearle Vision was founded in 1961 by Dr. Stanley Pearle, who began the concept of one-stop, total eye care with the opening of the Pearle Vision Center in Savannah, Georgia. Pearle combined complete eye exams with an extensive selection of eyewear. In 1981, Pearle Vision began offering franchises to select doctors and opticians. Today, Pearle Vision is owned by Luxottica, a leader in premium fashion, luxury and sports eyewear, with approximately 7,000 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe and a strong and well-balanced brand portfolio.  For more information, visit http://www.PearleVision.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

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Source:BoeFly
Location:New York City - New York - United States
Industry:Finance, Retail, Franchising
Tags:Pearle Vision, BoeFly, franchise finance, sba, Small Business, loan, lending, Business, commercial, 7a, Michael Rozman
Shortcut:prlog.org/11628809
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