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BoeFly, the premier online marketplace connecting small business borrowers with lenders and a strategic ally of the International Franchise Association (IFA) to expand credit access within the franchise community, announced today that PostNet, America’s Neighborhood Business Center, has selected BoeFly to assist its franchisees in obtaining bank financing.
According to a recent IFA survey of its members, nearly half (49.2 percent) identified financing/access to credit as the main issue hampering their franchise organizations. In response to this concern, and bolstered by BoeFly’s success in helping individual franchisees obtain financing, the company created a portfolio of services geared specifically for the franchisor market. Through the PostNet Financing Center powered by BoeFly, PostNet provides franchisees with access to a network of lenders through BoeFly’s Internet-based loan exchange, assistance in creating an effective loan request, and support managing lender inquiries.
“BoeFly’s proprietary matching technology allows us to efficiently connect aspiring entrepreneurs with lenders who can work with their parameters, and ultimately help them realize their dreams of business ownership,” said Brian Spindel, COO and President of PostNet.
In addition to helping prospective franchise owners gain the capital they need to start their businesses, the arrangements with BoeFly will help existing PostNet locations invest in new equipment, expand their staffs, and better serve a growing pool of entrepreneurs looking for the resources to grow their own businesses. PostNet franchisees and their staffs work with business owners to identify their objectives, build upon their ideas, and develop the best solution to meet their needs. This could include anything from designing and printing custom invitations or signage for an important company event, to helping create a brand image for a new or existing business looking to re-invent itself. PostNet also offers freedom of choice for the customer as an authorized shipping outlet for all of the major carriers, including FedEx, UPS and the U.S. Postal Service.
“Today, even top franchisors like PostNet face the challenges of converting otherwise qualified franchisee candidates because of the difficulty in accessing capital,” said Mike Rozman, Co-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.”
Founded in 1993, Denver-based PostNet has more than 700 locations worldwide, including several hundred U.S. locations. Each locally owned and operated PostNet Neighborhood Business Center specializes in meeting the design, printing, copying and shipping needs of businesses and busy consumers, with a focus on exceptional, personal customer service. PostNet centers offer full-service digital printing; full- and self-service copying; document binding and finishing; and services like graphic design, computer rental stations, private mailbox rentals and more. They also offer expert packaging services and shipping with UPS, FedEx, DHL and the U.S. Postal Service. To learn more, visit www.postnet.com.
BoeFly makes it easier to obtain small business loans (http://www.boefly.com/) by reducing the time, cost, complexity, inefficiency and frustration associated with small business lending. Its online proprietary matching technology connects small business borrowers with multiple lenders from among its over 1500 participating banks, based on the lending profiles provided by the banks and the information provided in the borrower’s loan request.
Borrowers build a complete decision-ready loan request online using BoeFly’s exclusive “SmartForm” technology which, when completed, provides the information that over 1500 lenders nationwide indicated to BoeFly they want to see before moving forward with a loan request. The SmartForm is easy to use and guides borrowers through the process. Once BoeFly’s matching technology identifies compatible lenders, borrowers then have complete control over which lenders can instantly access their loan request. Using BoeFly, borrowers can connect with multiple lenders quickly and easily, providing a greater probability of obtaining a loan, as well as more favorable loan terms resulting from the creation of a competitive marketplace. Lenders benefit by being presented with only those loan requests that fit their lending profile, dramatically lowering their cost and time of origination. BoeFly is not a broker. Borrowers pay a small one-time fee and lenders pay an ongoing subscription fee; BoeFly never charges transaction or referral fees.
BoeFly, now a strategic ally of the International Franchise Association to expand credit access within the franchise community (http://www.boefly.com/ifa.cfm), offers aFranchise Solution brings these benefits to the large and growing small business franchisee community and is the choice of over 90 brands including Dunkin’ Donuts, Carl’s Jr., Express Personnel and Kiddie Academy, among many others.
BoeFly’s Affiliate Solution is the financing exchange chosen by the Association of Small Business Development Centers, representing approximately 1,000 centers nationwide, which are funded in part by the U.S. Small Business Administration, to serve small businesses, and Franchise Gator, the leading site for information on franchise opportunities.
Fishman Public Relations