Small Business Owner Secures Franchise Acquisition Financing via BoeFly
Ohio woman closes a loan with a nationwide preferred SBA lender from Minnesota to purchase a Hurricane Grill & Wings franchise in Florida
ROYAL PALM BEACH, Fla. - June 3, 2015 - PRLog -- BoeFly, the business loan marketplace for small business borrowers, announced today that Dawn Swineford has secured a franchise acquisition loan from Stearns Bank through a connection made by BoeFly.
“BoeFly was created to ensure business owners, like Dawn, are not hindered by lack of access to capital when acquiring a business,” said Mike Rozman, CEO of BoeFly. “Dawn had a unique opportunity to purchase an existing unit from the franchisor, and though she was in Ohio and the target franchise location was in Florida, BoeFly allowed her to efficiently and effectively connect with a national lender out of Minnesota who she likely would have never met without BoeFly.”
Dawn, a proven entrepreneur with strong small business ownership experience, was intent on seizing the opportunity to purchase a corporate-owned location at a favorable acquisition price but thought that getting the necessary funding quickly could be a challenge. Enter BoeFly, which dramatically simplified the loan process. Through BoeFly, Hurricane Grill & Wings offers franchisees access to several thousand lenders with the completion of a single loan request for faster start-up periods and better financing opportunities.
“When the opportunity to purchase a Hurricane Grill & Wings franchise in Royal Palm Beach arose I knew instantly that if I could get the acquisition funding I needed I would jump at the opportunity,”
Through BoeFly’s marketplace, Dawn connected with Jeremy Goltz, an SBA lender from Stearns Bank, who provided Dawn with an SBA loan in order to purchase the Florida franchise.
"I'm thrilled to have met and helped Dawn secure the financing she needs to purchase this franchise,” said Jeremy Goltz, Assistant VP at Stearns Bank. “We have designed our FASTTrack small business lending program to provide same-day approval and expedited closings, and through BoeFly we have the opportunity to connect with a large variety of worthy borrowers like Dawn who are looking to start, grow and/or purchase a franchise.”
Florida-based Hurricane Grill & Wings is known for its jumbo, fresh wings, more than 35 signature sauces and rubs and tropical, laid-back vibe. It has been named by USA Today as one of the “10 Great Places to Wing It,” selected by Restaurant Business as one of the “Future 50,” and identified by Franchise Times as one of the “Top 40 Fast and Serious” franchise brands.
“We feel that access to financing does not need to be the challenge it once was, especially now that our partnership with BoeFly makes the loan process straightforward, efficient and effective for both our prospective and current franchisees,”
BoeFly is the industry’s only on-line matching platform connecting small business borrowers with multiple lenders from among its more than 5,000 participating banks and specialty finance companies. By using BoeFly’s proprietary matching technology, borrowers have a greater probability of obtaining a small business loan with favorable rates and terms. 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 a strategic ally of the International Franchise Association, with the objective being to expand credit access within the franchise community, and is the choice of more than 125 brands, including Dunkin’ Donuts, Carl’s Jr., and Kiddie Academy.
Founded in 2010 by small business owners and small business lending experts, BoeFly’s marketplace has accommodated over $4.2 billion in transactions. For more information, visit www.boefly.com.
About Hurricane Grill & Wings®
With over 80 restaurants open or under construction in 15 states, Florida-based Hurricane Grill & Wings is known for its jumbo, fresh wings, more than 35 signature sauces and rubs and tropical, laid-back vibe. Named by USA Today as one of “10 Great Places to Wing It,” selected as one of the “Future 50” by Restaurant Business and as one of Franchise Times “Top 40 Fast and Serious,” Hurricane Grill & Wings’ menu includes crave-able Hurricane’s Garlic & Parm fries, tasty salads, seafood entrees and fresh ½ pound burgers. The brand’s signature Hurricane Bumby tops the list of its tropical drinks menu, along with a wide selection of craft beers and wines. The original Hurricane Grill & Wings opened in Fort Pierce, Fla., in 1995 and has expanded to locations in Alabama, Arizona, Colorado, Georgia, Iowa, Maryland, Minnesota, New York, North Carolina, Tennessee and Texas, with additional restaurants planned nationwide. For more information, visit www.hurricanewings.com or for franchising information, please visit www.hurricanefranchising.com.
About Stearns Bank N.A.
Stearns Bank was founded in 1912, and Owner & CEO Norm Skalicky has led Stearns since 1964. Stearns Bank N.A. is a $1.9 billion top-ranked financial holding company based in Minnesota and nationwide preferred SBA lender, with bank locations in Minnesota, Florida, Georgia, Arizona, and a nationwide Equipment Finance Division. Stearns Bank ranks 1st in ICBA Independent Banker’s 2015 Best of the Best, based on Return on Average Assets among banks with $1 billion or more in assets nationwide. The registered trademark motto for Stearns is: “We get the job done!” For more information, visit www.stearnsbank.com.
Page Updated Last on: Jun 03, 2015