Saladworks Franchisee in Northeastern Pennsylvania Secures SBA Loan to Open First Poconos Restaurant

BoeFly connects a Stroudsburg, Pa. borrower with a bank for a start-up loan of $340,000 to open a Saladworks franchise
 
 
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Stroudsburg PA

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Sept. 6, 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 JTS Enterprises, LLC, a Saladworks franchisee in Stroudsburg, Pa., secured an SBA-guaranteed loan of $340,000 through a connection made by BoeFly to open Saladworks’ first Poconos location. Saladworks is the nation’s first and largest fresh-tossed salad restaurant concept with over 100 franchise locations across the country.

“We found BoeFly incredibly easy to use, and we were blown away at how many serious lenders we met,” said Mark and Ebony Satterfield, the East Stroudsburg husband-and-wife team who are the members of JTS Enterprises, LLC.

When the Satterfields submitted their loan request to BoeFly, they received requests from 13 lenders to view their loan package.  

“We will certainly use BoeFly when we need capital to open up our future Saladworks locations,” they said.

The Satterfields used BoeFly at the recommendation of Saladworks, which has selected the platform to assist its franchisees in obtaining bank financing.

“Saladworks franchisees have found success in the past with BoeFly, and we use the service in an effort to support our franchisees with the challenge of financing,” said Jason Mattes, vice president of development for Saladworks. “We were thrilled that the service helped the Satterfields become first-time owners, and are confident in the BoeFly platform and the future success it could bring to Saladworks franchisees.”

“It is nice to work with a franchise system like Saladworks that supports franchisees throughout the entire process, including financing,” said Mike Rozman, Co-president of BoeFly. “Saladworks pointed the Satterfields to BoeFly, where they were guided through building a bank-ready financing request and were matched with a bank in their state.  We look forward to continuing our work with Saladworks in helping to support its franchisees.”

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 2,200 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 2,200 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 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.

About Saladworks

Saladworks, celebrating its 25th anniversary, is the nation’s first and largest fresh-salad franchise concept, operating 104 locations in 13 states with more than 60 units in development. Saladworks offers a "fanatic’ly fresh" menu of flavorful salads, signature dressings, proprietary soups, Fusion and Panini sandwiches. With the addition of the True Nutrition menu, Saladworks’ signature salads average less than 300 calories. In 2012, Entrepreneur magazine named Saladworks the nation’s number-one salad franchise, for the fourth year in a row. It is consistently listed on QSR’s 10 Best Franchise Deals; Inc.’s 500/5000; and Philadelphia Business Journal’s Best Places to Work. Scardapane was named 2011 CEO of the Year by SmartCEO. For more information, visit http://www.saladworks.com.

Media inquiries:

Bill Fallon
keating/co
212.925.6900
bfallon@keatingco.com
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Source:BoeFly, LLC
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Tags:BoeFly, Saladworks, Franchise Finance, Sba Loan, Stroudsburg PA
Industry:Finance, Franchising
Location:United States
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Page Updated Last on: Sep 06, 2012
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