Matco Tools Selects BoeFly To Assist Its Franchisees In Obtaining Bank Financing

Nov. 4, 2011 - PRLog -- New York, NY – BoeFly, the premier online marketplace connecting lenders with business borrowers, announced today that Matco Tools, a franchisor specializing in the manufacturing and distribution of automotive equipment and tools for professionals, has selected BoeFly to assist its franchisees in obtaining bank financing.

According to a recent survey conducted by the International Franchise Association of its members, nearly half identified “financing/access to credit” as the top issue of concern.   In response to this concern, and bolstered by its success in helping individual franchisees obtain financing, BoeFly created a portfolio of services for the franchisor market.   Through BoeFly, companies can offer their franchisees access to a network of lenders by posting a single loan request on BoeFly’s internet-based loan exchange.  BoeFly also offers assistance in creating an effective loan request and support in managing lender inquiries.   BoeFly uses proprietary matching technology to connect franchisees with lenders whose loan package meets specific lending criteria. This increases franchise revenue by helping franchisees connect with the capital they need to open their businesses.

Matco Tools is a manufacturer and distributor of premium quality, professional automotive equipment, tools and toolboxes. The company offers more than 13,000 products and also guarantees and services the equipment it sells. Matco Tools began operation in 1946, and since 1979, has sold products directly to professional mechanics, enthusiasts and those who value quality tools.  Their main source of distribution is through a network of independent franchised mobile distributors.  Today, Matco distributors operate in all 50 states, Canada and Puerto Rico.  

“Using BoeFly’s services, we aim to grow the Matco Tools footprint in the market and offer our manufacturing and distribution services to more customers who value quality tools,” said Rick Smearcheck, Director of Financial Services for Matco Tools.  “With BoeFly’s online platform, the process of finding the right lenders for our franchisees will be much simpler and more convenient. It is one more way we are removing hurdles to small business ownership so that potential franchisees can make the dream of owning their own business a reality.”

“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 percent 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.  We are pleased to extend these benefits to potential Matco Tools franchisees.”

About Matco Tools

Matco Tools manufactures, distributes and services premium quality automotive equipment, tools, and tool storage for the professional technician. The company has more than 60 years of national brand experience in the automotive equipment industry and a vast product line of more than 13,000 of the highest quality, innovative tools and accessories. The company's franchise offering has no franchise, royalty, or advertising fees. Initial corporate and ongoing local training create and build outstanding value for the franchisee's business.  For more information on Matco Tools products or franchise opportunities, visit http://www.matcotools.com.

Franchise Opportunities

For more information on franchise opportunities, call 1-888-696-2826 or visit http://www.matcotools.com.

For More Information on Matco Tools:

Jessica Gardner
Matco Tools
330-926-5355 (direct)
216-702-1806 (cell)
jessica.gardner@matcotools.com


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. http://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