New York, NY, November 17, 2010 --(PR.com
)-- BoeFly, the premier online marketplace connecting lenders with business borrowers, secondary market loan buyers and professional service providers today announced that leading franchise brands covered by a FRANdata Bank Credit Report have the opportunity to make it directly accessible via BoeFly, providing Banks with additional information for more informed decisions on specific franchise-related lending opportunities. FRANdata is a leading independent research company that tracks and analyzes franchise industry performance.
A Bank Credit Report provides an independent analysis of the performance of the franchise brand for lenders who are looking to assess the performance of a franchise system from a credit perspective before considering a franchise loan. Now, more than 500 BoeFly lenders using BoeFly to identify qualified loan demand can access available Bank Credit Report and make a more informed assessment of franchise-related lending opportunities.
“Lenders rely on BoeFly to efficiently find financing opportunities matched to their unique preferences but also to access a robust package of supporting documents,” said Robert Tannenhauser, CEO of BoeFly. “BoeFly member banks reviewing financing requests from those brands covered by the Bank Credit Report are now positioned to have instant online access to the Bank Credit Report along with other important documents.”
“BoeFly is providing an important service by directly connecting franchise businesses seeking financing to lenders through a posted financing request,” said Darrell Johnson, CEO of FRANdata. “With franchise lending increasingly coming from the community and regional banks, BoeFly increases access points for borrowers linking them to hundreds of lenders. The Bank Credit Report puts vital franchise credit risk information at their fingertips.”
“As a fast growing brand, one of our major concerns is franchisee financing,” said Robbie Sprechman, CFO of Retro Fitness. “We turned to FRANdata to obtain a Bank Credit Report so banks have important information to make informed lending decisions about our more than 100 locations. As a new BoeFly user, I’m very pleased that BoeFly banks evaluating Retro Fitness franchisees will have seamless access to our Bank Credit Report.”
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.
FRANdata (www.frandata.com) is an independent research company that tracks and analyzes the franchise industry. The Arlington, Va.-based company receives no advertising or other fee arrangements that might influence its objectivity. FRANdata is often cited as an expert in such leading media as The New York Times, The Wall Street Journal and The Washington Post.