Wings Etc. Owners in Antioch, Ill. to Open Restaurant With Help of Start-up SBA Loan

BoeFly connects Antioch, Ill. husband-and-wife franchisees with a Chicago bank for a start-up SBA loan to open a Wings Etc. restaurant; soft opening will be April 16th
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* Wings Etc
* BoeFly
* Antioch
* Sba Loans
* Franchise Financing

Industrys:
* Restaurants
* Finance

Location:
* Antioch - Illinois - US

ANTIOCH, Ill. - April 11, 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 Nancy and Dan Cappello, husband-and-wife franchisees of a soon-to-be-opened Wings Etc. restaurant in Antioch, Ill., secured an SBA-guaranteed start-up loan from Ridgestone Bank in Chicago through a connection made by BoeFly.

On Tuesday, April 16th, the Cappellos will welcome customers to the restaurant for the first time for their soft opening following several months of construction and preparation.

Financing was also a critical step for the Cappellos in starting their Wings Etc. They found the BoeFly platform to be very efficient in helping them build a secure financing request online and connect with several serious lenders who competed to fund the loan.

“This was our first time seeking financing, and BoeFly worked wonderfully,” the Cappellos said. “The process was simple to follow, and when we had questions, the professionals at BoeFly were incredibly helpful. Without BoeFly, we probably would not have found our lender."

The Cappellos chose to work with Tony Kim, business development officer and vice president specializing in SBA lending and commercial banking at Ridgestone Bank in Chicago.

“Ridgestone is committed to supporting small businesses, and I am very pleased that we met the Cappellos through BoeFly, the marketplace we use to efficiently find qualified business borrowers," Kim said.

The Cappellos used BoeFly at the recommendation of Wings Etc., which is one of more than 125 franchisors that have selected the platform to assist franchisees in obtaining bank financing.

"Wings Etc. is committed to helping our franchisees be successful in all aspects of their business through support in key areas, including financing," said Rob Hensmann, CFO of Wings Etc. "That's why we make BoeFly available to our franchisees. We are thrilled that BoeFly was helpful in the Cappellos’ successful search for financing, and we will continue to promote it as an effective resource.”

Mike Rozman, BoeFly’s co-president, views this success story as an effective solution to the issue of credit access facing many small business owners across the U.S.

“Nancy and Dan Cappello’s story addresses a common issue in today’s tight small business credit market, as many small business owners nationwide find challenges in efficiently accessing the capital they need,” said Rozman. “Fortunately, BoeFly has helped them and many others efficiently secure financing to start up or grow their businesses, and we look forward to continuing to work with reputable lenders such as Tony Kim and franchisors such as Wings Etc. 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 Wings Etc.

Founded in 1994 by Jim Weaver in the South Bend, Indiana area, Wings Etc. is a family-friendly Restaurant & Pub, with a diverse menu featuring our Award-Winning Jumbo Buffalo Wings, Ribs, Burgers, Sandwiches, Subs, Wraps, Flatbread, Salads, Kids Meals, Cold Beer and other drinks, great atmosphere, and that good-old-fashioned "vibe" that makes people want to come in and hang out. As a sports-themed pub, we offer multiple, visible-from-everywhere flat-screen TVs, great sports packages on satellite television, and we always have our sets tuned to the best sports programming available. Wings Etc. has kid-friendly, arcade-quality video games, Daily Drink Specials, Daily Lunch Specials, Daily Food Specials and much more. Wings Etc. now franchises its proven, full-service restaurant concept in multiple Midwestern states, and is currently seeking qualified franchise operators for select markets. For more information, visit http://wingsetcfranchise.squarespace.com/

Media inquiries:

Bill Fallon/ Keating Co. /212.925.6900/ bfallon@keatingco.com
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Tags:Wings Etc, BoeFly, Antioch, Sba Loans, Franchise Financing
Industry:Restaurants, Finance
Location:Antioch - Illinois - United States
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