Omar currently owns and operates a successful Dunkin' Donuts location in Hyattsville, Md. With over 20 years of quick-service restaurant (QSR) experience and 15 years of corporate experience, Omar was looking to grow his business and decided to add another Dunkin' Donuts unit to his portfolio with a new location in Greenbelt.
“I looked for a loan for my first Dunkin' Donuts on my own, and I learned that the loan process was hard," Omar said. "But for my new Dunkin' Donuts, I used BoeFly to get a loan, and I found the process incredibly easy. I wouldn't have met my lender, Morgan from Conestoga Bank, and now I'm set to open for business. I'll be sure to use BoeFly every time I need financing."
When Omar submitted his loan request to BoeFly, he received several funding offers from lenders. He ultimately chose to work with Morgan Johns, SVP from Conestoga Bank in Philadelphia, Penn.
"I'm thrilled to have met Ray, a successful franchisee of Dunkin' Donuts, through BoeFly," Johns said. "My bank is looking to grow and here is yet another example of how I used BoeFly to efficiently make an SBA loan to a borrower I wouldn't have found otherwise. BoeFly is an important and easy way for my bank to find business borrowers. In addition to this Dunkin' Donuts franchisee, we've financed business owners from leading franchise brands like Great Clips, Saladworks, and Kiddie Academy. We've found independent borrowers, too."
Omar used BoeFly at the recommendation of Dunkin' Donuts, which has selected the platform to assist its franchisees in obtaining bank financing.
“BoeFly was created to make sure business owners like Dunkin' Donuts franchisee Ray Omar had the easiest possible access to financing," said Mike Rozman, co-president of BoeFly. "The more efficiently business owners can secure the financing they need, the more jobs get created. I applaud Dunkin' Donuts for making BoeFly available to Ray; it is clear evidence that they position their franchisees for success. I also congratulate Morgan from Conestoga Bank, who, by relying on BoeFly to make more business loans, has efficiently grown his bank's loan portfolio."
Currently, Dunkin' Donuts has more than 10,000 restaurants in 32 countries and is growing. As Dunkin' Donuts continues to grow, access to capital is critical.
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 all types of small businesses, as well as Biz Buy Sell 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 Dunkin' Donuts®
Founded in 1950, Dunkin' Donuts is America's favorite all-day, everyday stop for coffee and baked goods. Dunkin' Donuts is a market leader in the regular/decaf coffee, iced coffee, hot flavored coffee, donut, bagel and muffin categories. Dunkin' Donuts has earned the No. 1 ranking for customer loyalty in the coffee category by Brand Keys for six years running. The company has more than 10,000 restaurants in 32 countries worldwide. For the full-year 2011, Dunkin' Donuts' restaurants had global franchisee-reported sales of approximately $6.4 billion. Based in Canton, Mass., Dunkin' Donuts is part of the Dunkin' Brands Group, Inc. (NASDAQ: DNKN) family of companies. For more information, visit www.DunkinDonuts.com.
Bill Fallon/ Keating Co. /212.925.6900/