Husband-and-Wife TCBY Franchisees in Ralston, Neb. Secure Start-up Financing Through BoeFly

Oct. 15, 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 (IFA) to expand credit access within the franchise community, announced today that Thomas and Kara Negley, first-time business owners and new franchisees of TCBY in Ralston, Neb., secured a start-up loan from Centennial Bank in Omaha through a connection made by BoeFly.

The new TCBY location is scheduled to open in February 2013. TCBY (The Country's Best Yogurt), part of Famous Brands International, is an international franchise chain of frozen yogurt stores and the largest U.S. retailer of soft-serve frozen yogurt with live active cultures.

Prior to taking the path of franchise ownership, Thomas Negley worked in the insurance industry and has a background in firefighting equipment sales. He also served as a volunteer firefighter.

“Kara and I knew that to be able to start a business for the first time, we would need adequate financing, and TCBY pointed us to BoeFly,” Thomas Negley said. “We had a great experience using the platform, where our loan package received competitive funding offers, and it allowed us to connect with a nearby bank with which we can build a lasting relationship.”

After receiving several funding offers, Thomas and Kara decided to work with Stephanie Smith, assistant vice president and relationship manager at Centennial Bank in Omaha.

“At Centennial Bank, we have found BoeFly to be a highly efficient, proven tool in helping us originate loans and connect with qualified borrowers such as Thomas and Kara Negley,” Smith said. “On BoeFly I found a complete loan package that allowed me to move quickly with this deal, and we are pleased to now have a relationship with the Negleys.”

Centennial Bank recently funded another deal through BoeFly, helping Lenny’s Sub Shop franchisees Stephanie and Wesley Klaus connect with Rod Reisen, a vice president of business banking at Centennial Bank.

Thomas and Kara used BoeFly at the recommendation of TCBY, which is one of more than 125 franchisors that have selected the platform to assist franchisees in obtaining bank financing.

“We are extremely pleased to learn that BoeFly helped the Negleys become first-time owners of a TCBY franchise,” said Paul Correale, franchise development manager at Famous Brands International. “We chose to promote BoeFly’s service as a resource because at Famous Brands International, we are committed to offering our franchisees a solid support system, including in the key area of financing. We look forward to the upcoming opening of a new TCBY store in the Omaha area.”
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Mike Rozman, BoeFly’s co-president, views this success story as an uplifting solution to the widespread issue of small business credit access in the U.S.

“Although small business ownership presents an excellent opportunity, credit access issues often get in the way for prospective business owners,” Rozman said. “Fortunately, BoeFly has helped Thomas and Kara Negley and many others efficiently secure the financing needed to start or grow their businesses, and we look forward to continuing to work with qualified borrowers and supportive franchisors like TCBY.”


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 2,200 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 2,200 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 bringing these benefits to the large and growing small business franchisee community and is the choice of more than 125 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.


About TCBY

Based in Denver, TCBY, The Country’s Best Yogurt has been a frozen yogurt innovator from the day its first shop opened in Little Rock, Arkansas in 1981.  Ever since, the great-tasting, low-fat frozen yogurt concept has received an enthusiastic response from an increasingly health-conscious public. With more than 600 locations both in the United States and internationally, TCBY - Best Tasting, Best For You™ - has long been a healthier alternative for consumers looking for a treat or snack. To learn more check out http://www.TCBY.com.  


Media inquiries:

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