TCBY Selects BoeFly To Assist Its Franchisees In Obtaining Bank Financing

Jan. 9, 2012 - PRLog -- New York, NY — BoeFly, the premier online marketplace connecting lenders with business borrowers, announced today that TCBY, the leading international frozen yogurt 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.

TCBY, “The Country’s Best Yogurt”, has been leading the frozen yogurt industry for the past 30 years with an unwavering commitment to customer service and product innovation.  

“To maximize the quality and service offered by our stores, TCBY invests heavily in its franchisees through various support systems to better prepare them to be successful owners,” said Rob Streett, Senior VP of Development.  “We’ve decided to provide BoeFly’s service to our franchisees to help them operate their businesses more efficiently and continue to focus on satisfying customers.”

“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 TCBY

TCBY is the largest and fastest-growing frozen yogurt brand, leading the industry with its new self-serve concept. With more than 30 years of experience, and as the first frozen yogurt concept, TCBY is a successful model that has fueled the growth of a thriving industry. TCBY, which currently has 380-plus franchise locations in 47 states, offers the most extensive product line of any frozen yogurt company, with all yogurt flavors low in fat, fat free or sugar free. TCBY recently launched its new frozen yogurt classification called “Super Fro-Yo,” the healthiest frozen yogurt product available in the market. TCBY is part of Mrs. Fields Famous Brands® and thus is a sister company to Mrs. Fields. For more information, visit www.tcbyfranchise.com.

About BoeFly

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’s Franchise 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.

BoeFly was founded by small business owners and small business lending experts with extensive small business lending experience. The company is privately-held and is based in New York City. http://www.boefly.com.

Media inquiries:

Bill Fallon/ Keating Co. /212.925.6900/ bfallon@keatingco.com

# # #

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