New York, NY, March 03, 2011 --(PR.com
)-- BoeFly, the premier online marketplace connecting lenders with business borrowers, announced today that Mr. Sandless, the leading floor refinishing service franchisor has selected BoeFly to assist its franchisees in obtaining bank financing.
Nearly half (49.2%) of the respondents in a recent survey by the International Franchise Association (IFA) of its members identified “financing/access to credit” as the top issue of concern to franchise business leaders. In response to this concern, and bolstered by its success in helping many individual franchisees obtain financing, BoeFly created a portfolio of services for the franchisor market. Through BoeFly, they can offer their franchisees access to a network of lenders through the posting of a single loan request on BoeFly’s Internet-based loan exchange, assistance in creating an effective loan request, and support managing lender inquiries. BoeFly uses proprietary matching technology to connect franchisees with lenders that their loan package meets specific lending criteria, increasing franchise revenue by helping franchisees connect with the capital they need to open their businesses.
Mr. Sandless is one of the leading floor refinishing services, using a method that does not require sanding but instead uses a non-toxic solution, and then sealing the floor with their own brand of finish.
“Partnering with BoeFly is a key initiative for my system in 2011. They are addressing a challenge that every franchisor faces: franchisee access to capital. With BoeFly, we expect that to be less of an issue in 2011, improving our franchise growth outlook,” said Dan Praz, President and CEO of Mr. Sandless.
“Today even top franchisors face a significant challenge – converting otherwise qualified franchisee candidates into ongoing, paying customers because of the difficulty they have accessing capital,” said David Nayor, President of BoeFly. “Franchise lending has been down by as much as 40% in the past two years due in part to the inefficiencies in the lending process that have been exposed by the financial crisis. BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend.”
About Mr. Sandless
Mr. Sandless, based out of Aston, Pa., provides an affordable, contemporary way to refinish wood floors without odor, mess or hassle associated with traditional sanding methods. Developed by floor specialist and current Mr. Sandless President Daniel Praz, this exclusive refinishing process uses a non-toxic, odorless finish, and enables customers to have beautiful wood floors in just hours. Mr. Sandless currently has 115 franchise locations in 8 countries. For more information about Mr. Sandless or franchise locations, visit www.MrSandless.com or call (877) 994-WOOD.
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, franchisors, 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. Franchisors seeking to grow revenue by increasing the number of successfully financed franchisees please visit www.boefly.com/franchisor.