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The Little Gym Franchisee Secures SBA Loan Through BoeFly
By: BoeFly, LLC
“Amy is smart, capable and hard working,” said Brett, “and she was an incredibly well prepared small business loan applicant. It was an easy decision for us at Stearns Bank to decide to issue Amy a 7(a) loan for her startup The Little Gym franchise.”
Amy didn’t know which banks would be interested or willing to extend a business loan to her for her The Little Gym franchise and was therefore excited by the opportunity to harness the technology of BoeFly to do that work for her. She uploaded all of the necessary documents in one day and had a loan proposal from Stearns bank within a week.
“BoeFly was truly a great experience,”
The Little Gym provides BoeFly’s loan packaging service to both its existing and prospective franchisees at a discount. BoeFly’s proprietary technology then matches these existing and prospective franchisees with lenders based on lender loan package and credit preferences. BoeFly reduces the time, cost, and frustration associated with small business lending by allowing users to 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 is an incredibly valuable resource for our franchisees to secure the financing they need quickly and efficiently,”
“The process of going bank to bank to look for financing is antiquated and inefficient,”
About The Little Gym
With more than 300 locations in 30 countries, The Little Gym is the world’s premier enrichment and physical development franchise for children four months through 12 years. Our owners are backed by nearly 40 years of experience nurturing happy, confident kids through programs including parent/child, gymnastics, dance and sports skills, plus enjoyable extras like camps, Parentsʼ Survival Nights and Awesome Birthday Bashes. Each week, structured classes and a positive learning environment create opportunities for children to try new things and build self-confidence, all with a grin that stretches from ear to ear. For more information, visit http://www.thelittlegym.com.
BoeFly helps prospective and existing small business owners secure fast, efficient and competitive financing through its online matching platform, which connects borrowers with lenders from among its more than 5,000 participating banks and specialty finance companies. 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 the leading franchise lending solution, having supported franchisees from more than 395 unique franchise brands since 2014, including Carl’s Jr., Meineke, Jamba Juice and Kiddie Academy.
Founded in 2010 by small business owners and small business lending experts, BoeFly’s marketplace has accommodated over $4.5 billion in transactions. For more information, visit www.boefly.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: Oct 12, 2015