Great Clips Franchisee in Northern New Jersey Secures Start-Up Loan to Open Salon

BoeFly connects an Edgewater, New Jersey borrower with a Pennsylvania bank to help finance her first Great Clips franchise, which opened April 27th
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Edgewater - New Jersey - US

EDGEWATER, N.J. - April 30, 2013 - PRLog -- BoeFly, the premier online marketplace connecting lenders with small business borrowers, and a strategic ally of the International Franchise Association (IFA) to expand credit access within the franchise community, announced today that Karen Abrams, a Great Clips franchisee in Edgewater, New Jersey, as a result of a connection made by BoeFly, secured a start-up loan from a Pennsylvania bank to finance the opening of her first franchise on April 27th. Great Clips is the world’s largest salon brand, with nearly 3,300 salons throughout the United States and Canada.

In addition to being an entrepreneur, Abrams is an attorney representing small business owners. She learned about BoeFly after Great Clips recommended the platform as an effective financing resource.

“From my experience, BoeFly is the most efficient way for a small business owner to seek and secure bank financing,” Abrams said. “I chose Great Clips because they support their franchisees, and the fact that they recommend BoeFly to help me and others speaks volumes.”

When Abrams submitted her loan request to BoeFly, she received 13 requests from banks to view her complete loan package and ultimately chose a branch in Pennsylvania.

"I never would have found the bank without BoeFly," she said. "The multiple funding options I had in front of me allowed me to secure my loan under the best possible terms."

Great Clips is among more than 125 franchise brands that have selected BoeFly to assist its franchisees in obtaining bank financing.

“The large number of success stories among our franchisees says a great deal about the immense value of BoeFly’s service in helping the Great Clips brand grow across the country,” said Steve Overholser, CFO of Great Clips. “Hearing stories like Karen’s reconfirms why it is so critical to offer financing support to all of our franchisees, and we will keep the momentum going by continuing to promote BoeFly as an invaluable resource.”

“Great Clips has consistently shown an active commitment to supporting its franchisees throughout the entire process, including financing,” said Mike Rozman, Co-president of BoeFly. “It is always wonderful to learn about another success story, which in turn helps to drive small business growth and create new jobs. We look forward to continuing to work with franchisors like Great Clips in helping to support their 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 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 bringing 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 Great Clips, Inc.

Great Clips, Inc. was established in 1982 in Minneapolis. Today, Great Clips has more than 3,300 salons throughout the United States and Canada, making it the world’s largest salon brand. Great Clips salons employ nearly 30,000 stylists who receive ongoing training to learn advanced skills and the latest trends. Make Great Clips your choice for value-priced, high-quality haircare for men, women and children. No appointments needed, and salons are open nights and weekends. And, it’s more convenient than ever with Great Clips’ Online Check-In and Clip Notes. To check-in online, visit www.greatclips.com or download the app for Android and iPhone. For more information about Great Clips, Inc. or to find a location near you, visit http://www.greatclips.com.

Media inquiries:

Bill Fallon/ Keating Co. / 212.925.6900 / bfallon@keatingco.com
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Tags:BoeFly, Great Clips, Franchise Financing, Small Business Loan, Compatibility Matching
Industry:Finance, Franchising
Location:Edgewater - New Jersey - United States
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Page Updated Last on: Apr 30, 2013
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