Boston’s The Gourmet Pizza Franchisee Secures Bank Loan to Refinance

Feb. 16, 2012 - PRLog -- New York, NY – BoeFly, the premier online marketplace connecting small business borrowers with lenders and a strategic ally of the International Franchise Association to expand credit access within the franchise community, announced today that Gary Knudson, a Boston’s The Gourmet Pizza franchisee, secured a refinancing loan through a connection made by BoeFly. Boston’s The Gourmet Pizza is a full-service, casual dining restaurant and sports bar with locations in the United States and is affiliated with the Boston Pizza brand, the largest casual dining concept in Canada.

“I was seeking a loan to refinance my restaurant and rather than going from bank to bank, I used BoeFly’s online platform,” said franchisee Gary Knudson of Spokane, WA. "Thanks to their convenient service, I was able to connect with Washington Trust Bank, a lender right in my area.”

When Knudson submitted his loan request to BoeFly, his package included 22 supporting documents and was viewed by 12 lenders who requested access to the deal, including the bank that funded his loan. Knudson was ultimately connected with Larry Vandenburg, Vice President of Commercial Banking at Washington Trust Bank.

“BoeFly’s platform greatly simplifies the process of connecting with qualified borrowers like Gary Knudson, who presented an excellent loan package,” said Vandenburg. “Washington Trust Bank is glad to fund his refinancing loan, and we will continue to look out for similar lending opportunities,” Vandenburg continued.

Knudson used BoeFly at the recommendation of Boston’s, which has selected BoeFly to assist its franchisees in obtaining bank financing.

“Boston’s is very pleased that one of our franchisees has secured the financing he needed to continue providing great food and service to his customers and guests,” said Jim Brumleve, Vice President of Finance at Boston’s. “One of our cornerstone principles is to support franchisee profitability in all areas, including the key area of finance.  Efficient resources like BoeFly are a key tool that we are pleased to make available to our franchisee partners.”

“It is very rewarding to work with a franchise like Boston’s that supports its franchisees throughout the entire process, including financing,” said Mike Rozman, Co-president of BoeFly. “Boston’s directed Knudson to BoeFly, where he was guided through building a bank-ready financing request and was matched with Washington Trust Bank.  We look forward to continuing to work with franchisors like Boston’s in helping to support their franchisees.”

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, now a strategic ally of the International Franchise Association to expand credit access within the franchise community (http://www.boefly.com/ifa.cfm), offers a Franchise Solution that brings these benefits to the large and growing small business franchisee community and is the choice of over 100 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