Pita Pit Selects BoeFly to Assist Franchisees in Obtaining Bank Financing

March 6, 2012 - PRLog -- New York, NY – BoeFly, the premier online marketplace connecting lenders with business borrowers and a strategic ally of the International Franchise Association to expand credit access within the franchise community, announced today that Pita Pit, a fast-casual franchise offering light and tasty pita sandwiches, 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) 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.

“Pita Pit is excited to partner with BoeFly in an effort to grow our fresh and healthy brand,” said Jack Riggs, the CEO of Pita Pit USA. “We are recommending BoeFly’s time-saving and cost-effective service to help more franchisees get their Pita Pit restaurants up and running quickly and effectively without having to focus so much of their energy on the issue of financing.”

Pita Pit’s ‘Fresh Thinking, Healthy Eating’ concept was founded under the belief that fast food can taste great and include quality, wholesome ingredients that improve health. The restaurant serves light and tasty Lebanese-style pitas filled with customers’ choice of lean and savory meats, flavorful cheeses, fresh vegetables and exotic toppings.

“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 Pita Pit

Pita Pit was founded on the idea that people want an exciting alternative to fast food restaurants - a place with great tasting food that’s healthy, fresh, and still served fast. So Pita Pit ditched all the heavy breads and buns - along with the higher carbs and fat that today’s health-conscious consumers are trying to avoid. The brand chose then to polish its own recipe for a healthy, great tasting pita sandwich. Pita Pit’s health-minded approach paid off, and today has locations across the US and Canada. For more information, visit www.pitapitusa.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, 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 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

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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