New Factory Donuts Franchisees Rely on BoeFly to Secure Start-up Financing
Husband and wife team efficiently and effectively secure SBA loan to open Doylestown, PA location
NEW YORK - Sept. 24, 2019 - PRLog -- BoeFly, the franchise sales and financing system that has supported franchisees from more than 600 unique brands, announced that Joseph and Mara Cremen, new franchisees of emerging franchise concept Factory Donuts, secured an SBA loan through BoeFly to open their first location in Doylestown, PA.
Joseph and Mara were drawn to the quality and experience of the Factory Donuts concept. Both prior McDonald's managers, the Cremens knew a good opportunity when they saw it. They moved through the development process from candidate for consideration to signed franchisee with the help of BoeFly, the company fast growing franchisors like Factory Donuts rely on to diligence new franchisees and to deliver efficient, competitive financing options..
BoeFly made the process streamlined and efficient. After completing a bVerify diligence report on Joseph and Mara that presented their verified credit and asset positions, BoeFly leveraged that information to secure an early stage loan proposal early in the process, giving the Cremens the comfort and confidence to move forward knowing that a lending partner was already interested.
"BoeFly secured for us a bank LOI early in our process with little effort or work required from us," said Joseph. "As we proceeded with Factory Donuts and ultimately signed a franchise agreement, BoeFly continued to support us through the financing journey with excellent customer service; we had a dedicated representative who clearly and capably walked us through everything and made sure that we succeeded."
Factory Donuts partnered with BoeFly precisely for this reason. "That we can have diligence completed as part of our assessment of a candidate and also have that translate into efficient financing – all done by a single company – makes use of BoeFly's sales and financing system a no brainer," said Dave Restituto, CEO and Founder of Factory Donuts. "We were able to focus on other aspects of development with Joe and Mara, knowing full well that BoeFly had the financing support piece covered for us and them."
"We love to help emerging franchise brands like Factory Donuts, as much as we do mature, iconic franchise brands," said BoeFly President Mike Rozman. "At the same time we're proud to have supported Joe and Mara on their franchise journey and look forward to tracking their growth in the years to come."
BoeFly helps prospective and existing small business owners secure fast, efficient and competitive financing through its online matching platform, which connects borrowers with the right lenders from an array of participating banks and specialty finance companies. Lenders benefit by being presented with only those loan requests that fit their lending profile, dramatically lowering their time and cost of origination.
BoeFly's Franchise Sales & Financing System also provides critical diligence services to franchisors to help them assess prospective franchisees. BoeFly is the leader in franchise diligence and lending solutions, having supported franchisees from more than 600 unique franchise brands including Meineke, BrightStar Care and Checkers.
Founded in 2010 by small business owners and small business lending experts, BoeFly's marketplace has accommodated over $7 billion in transactions. For more information, visit www.boefly.com.
Page Updated Last on: Sep 25, 2019