Small Business Owner, Lender to Participate in Panel at Small Business Lending & Investment Summit

WASHINGTON - April 10, 2013 - PRLog -- 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 Co-President Mike Rozman will moderate a working capital panel focused on the Small Business Administration’s 7(a) program at the Small Business Lending and Investment Summit today in Washington, D.C.

The panel, “Working Capital on Main Street and Beyond: SBA’s 7(a) Program”, will feature a dialogue with Ray Omar, the owner of two Dunkin’ Donuts locations in Maryland who secured an SBA start-up from a lenders on the BoeFly platform.

Omar, who has over 20 years of quick-service restaurant experience and 15 years of corporate experience, will share his story about overcoming the challenge of financing in today’s tight credit market to expand his successful Dunkin’ Donuts franchise in Hyattsville, Md. and open a new location in Greenbelt, Md. He used BoeFly at the recommendation of Dunkin' Donuts, which has selected the platform to assist its franchisees in obtaining bank financing.

“I looked for a loan for my first Dunkin' Donuts on my own, and I learned that the lending process was difficult and time consuming," Omar said. "But for my new Dunkin' Donuts, I used BoeFly to get a loan, and I found the process to be incredibly easy. Without it, I wouldn't have met my lender, and now I'm set to open for business.”

In addition to Omar, the panel will feature Doug Cullinan, SVP of Cornerstone Bank and active lender on BoeFly, who will share his insight on small business lending and the criteria lenders such as Cornerstone Bank look for in loan applications from borrowers.

Sharon O'Connor-Clarke, principal consultant for government and small business at FICO, will join Omar and Johns on the panel. O’Connor-Clarke oversees FICO's SBSS product, the scoring solution that SBA uses as part of its Small Loan Advantage product. Lynn Ozer of Susquehanna Bank and Brett Larrabee of Famous Dave’s will add perspective as panelists too.  Timothy Dixon, senior vice president and head of SBA lending at Citizens Republic Bank, will introduce the panel.

“This panel is not only an opportunity to educate the audience at the Summit about the SBA’s 7(a) loan program, but it will also tell a real and current story about success in small business financing made possible through an efficient way of matching borrowers with lenders,” said Rozman, co-president of BoeFly and the panel’s moderator. “Ray’s and Doug’s story are important ones, and speaks directly to the more effective ways in which small business owners are connecting with the right lenders who can meet their financing needs – even if those lenders happen to be hundreds or more miles away.”

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.

Media inquiries:

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