BoeFly Assembles Panel of Leading Lenders and Franchisors to Discuss FRANdata’s Bank Credit Report

Feb. 28, 2012 - PRLog -- New York, NY – 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 it will moderate a webinar focused on the Bank Credit Report produced by FRANdata on Thursday, March 1 at 2:00 PM EST. During the webinar, lenders and franchisors will discuss how banks are working toward understanding franchise brands and not just franchisee borrowers.

The Bank Credit Report gives franchisors a useful tool to provide to banks: an objectively prepared, credit department-style evaluation of a franchise brand’s risk factors, including franchisor financial and operational risks and franchise system and franchise unit
performance risks.

Topics covered in the webinar will include an overview of the Bank Credit Report, how banks use the report in their credit decision process, how growing franchise brands use the report, whether the report is a fit for young and emerging brands, and what can be done if the report presents a less-than-positive view.

The panelists participating in the webinar will include:
•   CiCi’s Pizza – Jeff Moran, Assistant Corporate Controller
•   Kiddie Academy – Susan Wise, CFO/COO
•   Tasti D-Lite  - Grayson Brown, General Counsel
•   Chase – Brian Myers, SBA Credit Manager
•   First Niagara Bank – Janell Anderson, VP SBA Lending
•   Spirit of Texas Bank – Tim Spata, VP
•   FRANdata – Darrell Johnson, CEO

“We repeatedly hear banks say they want to understand the franchise brand and not just the franchisee borrower, and the Bank Credit Report provides a useful tool to do just that,” said Mike Rozman, Co-president of BoeFly. “BoeFly is hosting this webinar to further explore how this report can benefit both lenders and franchisors with regard to credit access within the franchise community.”

Rozman will moderate the webinar and receive a special introduction from Beth Solomon, Vice President of Strategic Initiatives at the IFA.

“Credit access is a top concern for many IFA members, so we welcome tools and solutions like FRANdata's Bank Credit Report that can accelerate financing for franchisors and advance our industry in the lending community,” Solomon said. “Our Strategic Alliance for Credit Access with BoeFly is an example of the IFA’s commitment to facilitating access to tools and solutions that franchisors and franchisees can benefit from today.”

To register for the webinar, visit: https://www1.gotomeeting.com/register/583996936


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, now in a Strategic Alliance with the International Franchise Association to expand credit access to franchisees, offers a Franchise Solution that brings these benefits to the large and growing small business franchisee community and is the choice of over 100 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

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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