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Former Teacher Secures Small Business Loan to Open Kiddie Academy in Lacey, Wash.

BoeFly connects former teacher and her husband with a lender for a Small Business Administration (SBA) start-up loan to open an education-based childcare franchise

 
PRLog - Jan. 24, 2013 - LACEY, WASH. – 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 Michelle and Steve Glacken, husband-and-wife franchisees of Kiddie Academy in Lacey, Wash., secured a Small Business Administration start-up loan through a connection made by BoeFly to open their education-based childcare center.

Owning a Kiddie Academy center seemed to be a natural fit for the Glackens’ backgrounds:  Michelle taught first and second grade for 11 years, and Steve owns and operates Glacken Fabrication LLC, a sheet metal company in Lynnwood.

“I have devoted the past decade of my life to childhood education as an elementary school teacher, and it is extremely rewarding to now be able to own and operate an educationally focused childcare center,” said Michelle Glacken. “This would not have been possible without the help of BoeFly’s platform, which helped us secure start-up financing quickly and easily.”

“With my experience as a business owner and Michelle’s background as a teacher, we knew Kiddie Academy was the perfect business for us to get into, and now that we have overcome the financing hurdle, we are excited to move forward and open up,” said Steve Glacken.

When the Glackens submitted their loan request to BoeFly, they received several funding offers from lenders. They ultimately chose to work with Kasandra Jaquez a commercial banker from Anchor Bank in Lacey.

“We’re very pleased to have added the Glackens as business clients of our bank, and we would not have them if it were not for BoeFly,” said Jaquez.

The Glackens used BoeFly at the recommendation of Kiddie Academy, which has selected the platform to assist its franchisees in obtaining bank financing.

“At Kiddie Academy, we offer our franchisees all the resources we can to support them in starting up and operating their child care centers for long-term success, and a large part of that support involves access to BoeFly, the proven financing platform,” said Susan Wise, CFO and COO of Kiddie Academy. “This success story proves the efficiency of BoeFly in getting our franchisees connected with the right lenders as conveniently as possible, and we will continue to rely on it as an effective resource.”

“It is great to work with a franchise system like Kiddie Academy that supports franchisees throughout the process from the ground up,” said Mike Rozman, co-president of BoeFly. “Kiddie Academy pointed the Glackens to BoeFly, where they were guided through building a bank-ready financing request, which was matched with a bank that financed their business. We look forward to our continued work with brands such as Kiddie Academy in helping to support their franchisees.”

Currently, there are over 100 open and operational Kiddie Academy locations, two of which are company owned. An additional 80 franchised Kiddie Academy locations are under various stages of development. Overall, Kiddie Academy locations are open or under development in 22 states. Kiddie Academy Domestic Franchising’s long-term business plan is to continue to develop and open Kiddie Academy locations across the country.

For more information about child care loans, please visit http://www.boefly.com/child-care-loans.

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 more than 3,600 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 more than 3,600 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 Kiddie Academy® 


For more than 30 years, Kiddie Academy® has been a leader in education-based child care. The company serves families and their children ages 6 weeks to 12 years old, offering full time care, before- and after-school care and summer camp programs. Kiddie Academy's proprietary Life Essentials® curriculum, supporting programs, methods, activities and techniques help prepare children for school and for life. Kiddie Academy is using the globally recognized AdvancED accreditation system, signifying its commitment to quality education and the highest standards in child care. For more information, visit http://www.kiddieacademy.com.

Media inquiries:
Bill Fallon/ Keating Co. /212.925.6900/ bfallon@keatingco.com

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Source:BoeFly
Country:United States
Industry:Finance, Franchising
Tags:kiddie academy, BoeFly, washington, small business loans, Start-Up Financing
Last Updated:Jan 24, 2013
Shortcut:prlog.org/12065508
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