Richmond TCBY Owners Secured Start-Up Financing Through BoeFly to Open Frozen Yogurt Shop

RICHMOND, Va. - March 12, 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 Les and Claudia Davis, husband-and-wife TCBY franchisees in Richmond, Va., secured a start-up SBA loan through a connection made by BoeFly.

With the loan, the Davises opened Richmond’s first TCBY store, located at 9468 West Broad Street, in December. TCBY (The Country's Best Yogurt), part of Famous Brands International, is an international franchise chain of frozen yogurt stores and the largest U.S. retailer of soft-serve frozen yogurt with live active cultures.

For the Davises, both entrepreneurs who founded a packaging company, this is their first business in the frozen yogurt sector.

“As entrepreneurs, Les and I have learned the great amount of efficiency and resourcefulness required in the start-up process, and we have applied this in our search for financing as we prepared to open our first frozen yogurt store,” Claudia Davis said. “We found BoeFly to be an ideal solution that offered us a variety of funding options and connected us with a bank right in our area.”

The Davises’ loan request received interest from several lenders across the country, and after evaluating the financing options, they chose to connect with a Richmond bank.

The Davises learned about BoeFly at the recommendation of TCBY, which is among more than 125 franchise brands that have selected BoeFly to assist their franchisees with financing support.

“At Famous Brands International, we are committed to offering our franchisees a solid support system, including in the key area of financing,” said Paul Correale, franchise development manager at Famous Brands International. “That is why we make BoeFly available to our franchisees, and we are pleased to know how well it worked for Les and Claudia Davis. We look forward to the upcoming opening of Richmond’s first TCBY store.”

Mike Rozman, BoeFly’s co-president, views this success story as an uplifting solution to the widespread issue of small business credit access in the U.S.

“It is always encouraging to see small business owners, franchisors and banks taking advantage of more efficient solutions to the challenge of accessing capital in today’s tight small business credit market,” said Rozman. “BoeFly has helped the Davises and many others efficiently secure financing to start up or grow their businesses, and we look forward to continuing to work with reputable franchisors like TCBY and lenders to help drive small business growth and create new jobs.”

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 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 over 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 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 TCBY

Based in Denver, TCBY, The Country’s Best Yogurt has been a frozen yogurt innovator from the day its first shop opened in Little Rock, Arkansas in 1981.  Ever since, the great-tasting, low-fat frozen yogurt concept has received an enthusiastic response from an increasingly health-conscious public. With more than 600 locations both in the United States and internationally, TCBY - Best Tasting, Best For You™ - has long been a healthier alternative for consumers looking for a treat or snack. To learn more check out http://www.TCBY.com.  

Media inquiries:

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