New York, NY, February 07, 2011 --(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 of over $2.8 million for the acquisition of an Ocean City, NJ Bed and Breakfast was closed through a connection made by BoeFly.
Key to the transaction was broker Chris Miller of Evergreen Equity Partners LLC. according to borrower Val Reyes. “I turned to a professional loan broker – Chris Miller, to help us secure financing. I wanted to increase my probability of finding a loan by hiring a professional in the industry; someone who really knows the business and who is creative with his approaches,” said Reyes. Miller, President of Evergreen Equity Partners, and longtime BoeFly user, posted the financing request on BoeFly, the online marketplace connecting borrowers with lenders which is used by many professional loan brokers. “Considering the current market environment, I knew that getting a loan of this size would be a challenge,” said Chris Miller.
Miller 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 have extensive exposure to the most suitable lenders,” said Miller. “In the first few days that the Bed and Breakfast deal was posted on BoeFly, seven lenders requested access to the detailed package. I would not have found a lender for this deal, much less several to choose from, without BoeFly.”
A local bank in Eastern Pennsylvania loaned Val Reyes $2.872 million to acquire the Atlantis Inn, a Bed and Breakfast located in the resort town of Ocean City, New Jersey.
“We are in the business of helping small businesses and their business advisors like Evergreen Equity Partners, connect efficiently with lenders,” said David Nayor, Co-President 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 making new loans to qualified borrowers. We make the process of connecting those borrowers with lenders highly efficient for all parties through our exclusive compatibility matching process.”
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.