News By Tag
News By Place
Kiddie Academy Owners in Fort Wayne Secure Small Business Loan to Open Childcare Center
BoeFly connects Fort Wayne, Ind. borrowers with a Philadelphia bank for a business start-up loan to open an education-based childcare center in August 2013
By: BoeFly, LLC
Hajira, who has a degree in Elementary Education, previously taught Kindergarten and preschool and was an assistant director at a KinderCare Learning Center; Zubair opened Fort Wayne Vision Associates, a successful optometry practice, in 2004.
“With my background in early childhood education and Zubair’s as a business owner, we knew Kiddie Academy was the ideal business for us to go into,” said Hajira Khan. “This would not have been possible without the start-up loan we got through BoeFly, and now that we have the financing, we are excited to bring a new childcare center to Fort Wayne.”
When the Khans submitted their loan request to BoeFly, they received several funding offers from lenders. They ultimately chose to work with Larry Frank, vice president of SBA lending at Conestoga Bank in Philadelphia, Penn. – more than 600 miles away from Fort Wayne.
“If it were not for the BoeFly platform, we would never have connected with the Khans to fund their loan,” Frank said. “We very much value our new relationship with the Khans and wish them the best of luck with their upcoming opening, and Conestoga will continue to use BoeFly as a resource to connect with other qualified borrowers.”
The Khans used BoeFly at the recommendation of Kiddie Academy, which has selected the platform to assist its franchisees in obtaining bank financing.
“At Kiddie Academy, we offer our franchisees all the resources we can to support them in starting up and operating their child care centers for long-term success, and a large part of that support involves access to financing platforms such as BoeFly,” said Susan Wise, CFO and COO of Kiddie Academy. “This success story proves the efficiency of BoeFly in getting our franchisees connected with the right lenders as conveniently as possible, and we will continue to promote it as an effective resource.”
“It is great to work with a franchise system like Kiddie Academy that supports franchisees throughout the process from the ground up,” said Mike Rozman, co-president of BoeFly. “Kiddie Academy pointed the Khans to BoeFly, where they were guided through building a bank-ready financing request, which was matched with Conestoga Bank. We look forward to our continued work with reputable lenders such as Larry Frank and top brands such as Kiddie Academy in helping to support their franchisees.”
BoeFly makes it easier to obtain small business loans (http://www.boefly.com/
Borrowers build a complete decision-ready loan request online using BoeFly’s exclusive “SmartForm”
BoeFly, now a strategic ally of the International Franchise Association to expand credit access within the franchise community (http://www.boefly.com/
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 Kiddie Academy®
For more than 30 years, Kiddie Academy® has been a leader in education-based child care. The company serves families and their children ages 6 weeks to 12 years old, offering full time care, before- and after-school care and summer camp programs. Kiddie Academy's proprietary Life Essentials® curriculum, supporting programs, methods, activities and techniques help prepare children for school and for life. Kiddie Academy is using the globally recognized AdvancED accreditation system, signifying its commitment to quality education and the highest standards in child care. For more information, visit http://www.kiddieacademy.com.
Bill Fallon/ Keating Co. /212.925.6900/