According to a recent IFA survey of its members, nearly half (49.2 percent) identified financing/access to credit as the main issue hampering their franchise organizations. In response to this concern, and bolstered by BoeFly’s success in helping individual franchisees obtain financing, the company created a portfolio of services geared specifically for the franchisor market. Through BoeFly, they can offer their franchisees 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 that their loan package meets specific lending criteria, increasing franchise revenue by helping franchisees connect with the capital they need to open their businesses.
Home Care Assistance has consistently capitalized on the growing opportunity in senior care. The Home Care Assistance business model, focused on affluent older adults who require full-time care at home, has helped over 60 percent of locations join its Million Dollar Club. The company, based in Palo Alto, California, has built a unique home care business distinct from the myriad competitors within the space and has consistently been ranked in the Franchise Business Review Top 50 for owner satisfaction.
“The senior care industry is among the fastest-growing sectors in America, and in order to continue being a leader in the industry, Home Care Assistance recognizes the importance of helping our franchisees succeed in their businesses,”
“Today, even top franchisors like Home Care Assistance face the challenges of converting otherwise qualified franchisee candidates because of the difficulty in accessing capital,” said Mike Rozman, Co-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 Home Care Assistance
Home Care Assistance is the leading provider of home care for seniors across the United States and Canada. Our mission is to change the way the world ages. We provide older adults with quality care that enables them to live happier, healthier lives at home. Our services are distinguished by the caliber of our caregivers, the responsiveness of our staff and our expertise in Live-In care. We embrace a positive, balanced approach to aging centered on the evolving needs of older adults. A 2012 Franchise500®
BoeFly makes it easier to obtain small business loans (http://www.boefly.com/
Borrowers build a complete decision-ready loan request online using BoeFly’s exclusive “SmartForm”
BoeFly, now a strategic ally of the International Franchise Association to expand credit access within the franchise community (http://www.boefly.com/
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.