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Global Franchise Group Franchisee Secures Bank Loan to Start Up

BoeFly connects a Baltimore, MD borrower with a bank for a start-up loan to open his Marble Slab Creamery and Great American Cookies franchise

 
PRLog - Apr. 12, 2012 - 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 Hess, a prospective franchisee seeking financing to open a Marble Slab Creamery and Great American Cookies location in Baltimore, secured a loan through a connection made by BoeFly. Both Marble Slab Creamery and Great American Cookies are premium dessert destinations, the former serving fresh ice cream and the latter offering decadent baked treats. They are brands of Global Franchise Group (GFG), one of BoeFly’s franchisor clients.

“I knew up front that in order to open up my franchise, I would need financing, which could have taken a long time to secure,” said franchisee Gary Hess of Baltimore, MD. "However, I was able to avoid that frustration by using BoeFly’s convenient online platform. It is an invaluable resource that allowed me to focus on other aspects of opening my business.”

When Hess submitted his loan request to BoeFly, he was connected with 16 lenders who requested access to the deal, including the bank that ultimately funded his loan.

Hess used BoeFly at the recommendation of GFG, which has selected BoeFly to assist its franchisees in obtaining bank financing.

“Global Franchise Group is satisfied to hear that BoeFly has facilitated one of our franchisees’ financing efforts,” said Christina Chambers, Director of Franchise Development for GFG. “Our aim is to stay agile in our franchise growth, a priority that BoeFly directly addresses with its online lending platform.”

“It is very rewarding to work with a franchise like Global Franchising Group that supports its franchisees throughout the entire process, including financing,” said Mike Rozman, Co-president of BoeFly. “GFG directed Hess to BoeFly, where he was guided through building a bank-ready financing request and was matched with a lender. We look forward to continuing to work with franchisors like GFG 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

# # #

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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Contact Email:
***@keatingco.com Email Verified
Source:Michaela Kron
Country:United States
Industry:Banking, Finance, Franchising
Tags:BoeFly, Global Franchise Group, Great American Cookies, Marble Slab Creamery, Finance, ifa, small business loans
Shortcut:prlog.org/11847041
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