Papa Murphy’s Franchisees in North Carolina Secure SBA Loan to Open Second Pizzeria

Feb. 14, 2013 - PRLog -- CHARLOTTE, N.C. – 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 Mark and Sharon Slaughenhoupt, currently franchisees of a Papa Murphy’s pizzeria in Hickory, N.C., secured an SBA expansion loan (http://www.boefly.com/sba-loan) through a connection made by BoeFly to open their second franchise location in Charlotte, N.C.

Papa Murphy's is the fifth-largest pizza chain in the country and the pioneer and leader of the take-and-bake pizza segment. Papa Murphy's operates more than 1,300 franchised and corporate-owned locations in 37 U.S. states and Canada.

“When we decided to expand and open a second store, Sharon and I wanted the process of seeking an expansion loan to be as efficient as possible, and Papa Murphy’s was very helpful in positioning BoeFly as a resource that helped us connect with a bank and secure the financing we needed,” said Mark Slaughenhoupt. “We look forward to opening our second location and bringing quality take-and-bake pizzas to our customers.”

When the Slaughenhoupts submitted their pizza franchise loan (http://www.boefly.com/pizza-restaurant-loans) request to BoeFly, they received 14 funding offers from lenders as far away as Michigan and New York. They ultimately chose to work with a local bank.

The Slaughenhoupts used BoeFly at the recommendation of Papa Murphy’s, which has selected the platform to assist its franchisees in obtaining bank financing.

“At Papa Murphy’s, supporting our franchisees in major areas such as financing is as much of a priority as providing fresh, high-quality take-and-bake pizzas for our customers,” said Dick Larsen, vice president of development at Papa Murphy’s. “We are dedicated to guaranteeing that our franchisees have the tools they need to operate their stores and to expand, and BoeFly has proven to be a very worthwhile tool in helping the Slaughenhoupts secure the loan they needed to open a second location.”

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

Papa Murphy's is the fifth-largest pizza chain in the country and the pioneer and leader of the take 'n' bake pizza segment. Papa Murphy's operates over 1,300 franchised and corporate-owned locations in 37 states and Canada. The Vancouver, Wash.-based company offers custom-made pizzas featuring high-quality, fresh toppings generously layered on pizza dough that is made fresh each morning in each store.  By baking Papa Murphy’s pizzas at home, customers get to experience the home-baked aroma of a convenient, delicious meal that the brand is known for. In addition to handmade pizzas, the company offers a growing menu of take 'n' bake items, including Cheesy Bread, Cinnamon Wheels, and chocolate chip cookie dough. Papa Murphy’s was recently voted “#1 Rated Pizza Chain” by surveyors in Zagat Survey’s 2010 & 2011 Fast Food Surveys and is a four-time recipient of Pizza Today’s Chain of the Year award. For more information, visit http://www.papamurphys.com. Find Papa Murphy’s on Facebook at http://www.facebook.com/papamurphyspizza.

Media inquiries:

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