BoeFly Connects an AlphaGraphics Franchisee with an Arizona Bank for an SBA Guaranteed Loan
New York, NY, November 22, 2010 --(PR.com
)-- BoeFly, the premier online marketplace connecting lenders with business borrowers, secondary market loan buyers and professional service providers, announced today that an SBA guaranteed loan was closed through a connection made by BoeFly between an AlphaGraphics franchisee seeking start-up financing with a community bank in Arizona.
The AlphaGraphics owners, Cindy and Ted Ferkenhoff, who have both had successful careers with large corporations, opened the franchise because they wanted to run their own business. “We turned to a professional loan broker - Mark Danford at FranFund, to help us secure financing,” said Ted Ferkenhoff. Danford, EVP of Funding Services for FranFund, and longtime BoeFly user, posted the financing request on BoeFly, the online marketplace connecting borrowers with lenders. The new loan, which resulted from BoeFly connecting the Ferkenhoff’s and their lender, allows them to open their first AlphaGrapics franchise. The new AlphaGraphics location, set to open in Flagstaff, AZ, will service the printing needs of local businesses.
Danford posted the request on BoeFly where more than 500 lenders from around the country could access the deal. “I use BoeFly to ensure that my clients most efficiently access the most suitable lenders,” said Danford. “In the first week the AlphaGraphics deal was posted on BoeFly a half a dozen banks requested access to the detailed package. I would not have found the bank which made the loan to the Ferkenhoffs, without BoeFly.”
“We are in the business of helping small businesses and their loan advisors like FranFund, connect efficiently with lenders,” said Robert Tannenhauser, CEO of BoeFly. “There are those that suggest that banks are not interested in making new loans to small businesses. However, this funding shows that banks are seeking to make new loans as long as they match the bank’s unique preferences. And BoeFly makes that match possible.”
BoeFly is the only online marketplace harnessing technology to dramatically simplify the execution of commercial transactions, including all loan origination and sales. BoeFly revolutionizes how deals get done by seamlessly connecting all parties, including lenders, borrowers, investors, buyers and sellers to a potential transaction and facilitating the efficient completion of these transactions. For small business lenders, BoeFly also provides the ability to sell loans to investors freeing up liquidity for even more small business lending. BoeFly is a subscription service and does not charge any transaction fees.
Key to the success of BoeFly is the site's dynamic compatibility technology which matches parties based on a specific set of criteria. Also, to help BoeFly subscribers complete transactions, BoeFly offers access to service providers in a wide variety of professions from appraisers, to closing attorneys, to environmental consultants.
BoeFly was founded by small business lending experts with extensive banking and secondary market experience. The company is privately-held and is based in New York City. www.boefly.com.