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New Kiddie Academy Franchisees Secure Start-Up SBA Loan via BoeFly
By: BoeFly, LLC
“At Conestoga Bank, we love working with smart and ambitious franchisees like Scott and Maria,” said Frank. “BoeFly’s loan exchange platform enables us to efficiently connect with and fund talented small business owners like Scott and Maria.”
The Littigs recognized the potential difficulty of obtaining financing for a start-up business and thus turned to BoeFly to ensure the greatest likelihood of securing a loan. With an SBA 7(a) loan secured quickly with Conestoga Bank, Scott and Maria gained valuable time they could devote to development and management of the new Kiddie Academy business.
“BoeFly experts put us in contact with Larry Frank at Conestoga Bank who actually wanted to help us start our business,” said Maria. “We knew we wanted to open a Kiddie Academy but were concerned about the prospect of securing reasonable bank financing. The idea of filling out multiple forms and tracking all of the responses and quotes felt like it would be a huge level of effort. But BoeFly made the process painless and, more importantly, effective!”
Kiddie Academy has arranged for various levels of BoeFly’s loan packaging services to be provided to all prospective franchisees at a discount. BoeFly’s proprietary technology then matches these prospective franchisees with lenders based on lender loan package and credit preferences. Kiddie Academy provides prospective franchisees with BoeFly as a financing resource because BoeFly reduces the time, cost, and frustration associated with small business lending. By using BoeFly, Kiddie Academy franchisees can post a single, bank-ready financing request on BoeFly’s online marketplace that will reach potential lenders throughout the country who may be interested in financing the deal.
“BoeFly offers a service to our new and existing franchisees that benefits everyone: franchisees, lenders, and us, the franchisor,”
“The process of going bank to bank to look for financing is antiquated and inefficient,”
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 life. Kiddie Academy is committed to quality education and the highest standards in child care. For more information, visit http://www.kiddieacademy.com (http://educationaldaycare.kiddieacademy.com/
About Kiddie Academy® Franchising
Kiddie Academy Domestic Franchising, LLC is based in Maryland and has 145 academies located in 23 states. Approximately 50 additional academies are in development, with all future growth coming via franchising. To learn more about the discovery process, to find opportunities near you, and to read franchise reviews, visit http://franchising.kiddieacademy.com.
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.
Page Updated Last on: Nov 02, 2015