BoeFly Assembles Expert Panel of Business Lenders to Discuss Best Practices in Franchise Finance

Dec. 23, 2011 - PRLog -- New York, NY – BoeFly, the premier online marketplace connecting small business borrowers with lenders, announced today that it will host a webinar focused on franchise financing on January 11, 2012 at 2:00 EST. The webinar will feature expert advice from leading lenders, including a national, regional and community bank, an equipment leasing firm, a specialty finance company and an independent analyst to explore the key similarities and differences between financing for franchises and financing for independent businesses.  

The panelists participating in the webinar will include:
•   Atlantic Coast Bank - Kevin Ellis, Vice President of Small Business Lending
•   Balboa Capital - Robert J. Rasmussen, Chief Operating Officer and Chief Risk Officer
•   Franchise America Finance – Ron Feldman, Chief Executive Officer
•   Bank of America – Joe DiNicola, Line of Business Executive
•   FRANdata – Darrell Johnson, Chief Executive Officer
•   United Capital Business Lending – Doug Bagnasco, Vice President
•   US Bank - Eric Daniels, Senior Vice President

“Around the country, banks are faced with the question of whether franchise loans should be evaluated differently than independent business loans, and if so, what are the best practices in originating and closing franchise loans?” said Mike Rozman, Co-president of BoeFly. “BoeFly is hosting this franchise finance webinar to facilitate a discussion that will address these exact questions and provide lenders with greater insight into the evaluation of franchise loans.”

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. BoeFly has been successful in helping many individual franchisees obtain financing by using proprietary matching technology to connect franchisees with lenders whose lending criteria match their loan package, increasing franchise revenue by helping franchisees connect with the capital they need to open, run or grow their businesses.

To register for the webinar, visit: https://www1.gotomeeting.com/register/996579632



About BoeFly

BoeFly makes it easier to obtain small business loans (http://www.boefly.com/) by reducing the time, cost, complexity, inefficiency and frustration associated with small business lending.  Its online proprietary matching technology connects small business borrowers with multiple lenders from among its over 1500 participating banks, based on the lending profiles provided by the banks and the information provided in the borrower’s loan request.

Borrowers build a complete decision-ready loan request online using BoeFly’s exclusive “SmartForm” technology which, when completed, provides the information that  over 1500 lenders nationwide indicated to BoeFly they want to see before moving forward with a loan request. The SmartForm is easy to use and guides borrowers through the process. Once BoeFly’s matching technology identifies compatible lenders, borrowers then have complete control over which lenders can instantly access their loan request.  Using BoeFly, borrowers can connect with multiple lenders quickly and easily, providing a greater probability of obtaining a loan, as well as more favorable loan terms resulting from the creation of a competitive marketplace.   Lenders benefit by being presented with only those loan requests that fit their lending profile, dramatically lowering their cost and time of origination.   BoeFly is not a broker.  Borrowers pay a small one-time fee and lenders pay an ongoing subscription fee; BoeFly never charges transaction or referral fees.

BoeFly’s Franchise Solution brings these benefits to the large and growing small business franchisee community and is the choice of over 90 brands including Dunkin’ Donuts, Carl’s Jr., Express Personnel and Kiddie Academy, among many others.

BoeFly’s Affiliate Solution is the financing exchange chosen by the Association of Small Business Development Centers, representing approximately 1,000 centers nationwide, which are funded in part by the U.S. Small Business Administration, to serve small businesses, and Franchise Gator, the leading site for information on franchise opportunities.

BoeFly was founded by small business owners and small business lending experts with extensive small business lending experience. The company is privately-held and is based in New York City. http://www.boefly.com.

Media inquiries:

Bill Fallon/ Keating Co. /212.925.6900/ bfallon@keatingco.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