Extra Innings Selects BoeFly To Assist Its Franchisees In Obtaining Bank Financing

Oct. 13, 2011 - PRLog -- New York, NY – BoeFly, the premier online marketplace connecting lenders with business borrowers, announced today that Extra Innings, a Massachusetts-based indoor baseball and softball training franchise, 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.

Extra Innings' state-of-the-art Training Centers and Locker Rooms are dedicated to covering all the bases and fulfilling the needs of players of all ages and abilities. The Training Centers offer batting cages, professional instruction, a fully stocked retail shop with E-Commerce back up, team and league sales capabilities and strength and conditioning programs. The Locker Rooms offer customers everything the training centers do with a demonstration area that replaces large batting cages. All Extra Innings locations use the Extra Innings Mobile Instructor App for the iPhone and iPad as a primary teaching tool inside and outside of the facility.  

“With BoeFly’s help, Extra Innings will have the capacity to grow and thrive as the country’s premier indoor baseball and softball training franchise,” said Michael Jarmusik, Vice President of Franchise Development of Extra Innings.  “BoeFly’s convenient online platform offers a particularly valuable advantage for our franchisees in connecting with lenders to finance Extra Innings facilities.”

“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 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.”

About Extra Innings

Extra Innings was established in 1996 and currently operates locations in 19 states. Extra Innings is recognized as the premier Baseball and Softball organization in the country.  For more information, visit http://www.extrainnings.us.  

About BoeFly

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 and comprehensive SmartForm loan application which matches parties based on a specific set of criteria. Also, to help BoeFly subscribers complete transactions, BoeFly offers online 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 http://www.boefly.com/franchisor.

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BoeFly connects small business borrowers, franchisors, and lenders online to facilitate the process of small business lending. For more information please visit http://www.boefly.com