Figaro’s Italian Pizza Selects BoeFly To Assist Its Franchisees In Obtaining Bank Financing

Jan. 4, 2012 - PRLog -- New York, NY – BoeFly, the premier online marketplace connecting lenders with business borrowers, announced today that Figaro’s Italian Pizza, a pizza restaurant franchise, has selected BoeFly to assist its franchisees in obtaining bank financing.

Nearly half (49.2%) of the respondents in a recent survey by the International Franchise Association (IFA) of its members identified “financing/access to credit” as the top issue of concern to franchise business leaders.    In response to this concern, and bolstered by its success in helping many individual franchisees obtain financing, BoeFly created a portfolio of services for the franchisor market.   Through BoeFly, they can offer their franchisees access to a network of lenders through the posting of a single loan request on BoeFly’s Internet-based loan exchange, assistance in creating an effective loan request, and support managing lender inquiries.   BoeFly uses proprietary matching technology to connect franchisees with lenders that their loan package meets specific lending criteria, increasing franchise revenue by helping franchisees connect with the capital they need to open their businesses.

Figaro’s Italian Pizza has been recognized as "the best pizza you can have at home." Pizzas can be baked in the restaurant or taken home in oven-ready baking trays for home baking. There are 4,000 topping combinations to choose from. Dependent upon location, other menu items may include lasagna, sandwiches, calzones, salads and soft drinks.

“Figaro’s Italian Pizza has established itself as the largest ‘we bake or you bake’ pizza franchise in North America, and we certainly want to keep the momentum going,” said Ron Berger, the CEO of Figaro’s Italian Pizza.  “BoeFly’s platform can provide our franchisees with a faster and easier way to find loans to help them continue to grow.”

“Today even top franchisors face a significant challenge – converting otherwise qualified franchisee candidates into ongoing, paying customers because of the difficulty they have accessing capital” said Mike Rozman, Co-president of BoeFly.  “Franchise lending has been down by as much as 40% in the past two years due in part to the inefficiencies in the lending process that have been exposed by the financial crisis.   BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend.”

About Figaro’s Italian Pizza

Founded in 1981, Salem, Oregon-based Figaro's Italian Pizza has been recognized as "the best pizza you can have at home." Pizzas can be baked in the restaurant or taken home in oven-ready baking trays for home baking. Pizza is also sold by the slice in some stores. Figaro's Pizza has grown to nearly 70 locations and the company expects to open 5 to 10 new units per year over the next several years. The company is focused on building mass in its current markets. For more information, visit the company's website at www.figaros.com.

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 1500 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 1500 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’s Franchise Solution brings these benefits to the large and growing small business franchisee community and is the choice of over 90 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

# # #

BoeFly connects small business borrowers, franchisors, and lenders online to facilitate the process of small business lending. For more information please visit http://www.boefly.com