Multi-Unit KFC Franchisee in New York City Secures $2.4 Million Business Loan for 13 Locations

June 12, 2012 - PRLog -- New York, NY – 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 a multi-unit KFC franchisee in New York City secured a business acquisition credit of $2.4 million for 13 KFC locations through a connection made by BoeFly.

The franchisee retained Reliance Capital Advisors (RCA), a business and commercial credit consulting firm in Iselin, N.J., to assist in obtaining credit for his acquisition. RCA worked with the franchisee to create a complete credit package on BoeFly. It was then compatibly matched to 19 of BoeFly’s more than 2,200 lenders nationwide, who requested access to the full loan package.

“BoeFly’s platform allows me to present my clients' deals in an effective manner to a broad and interested audience of lenders to work effectively as a link between clients who are looking to finance their deals and lenders who are able to fund those deals,” said RCA. “The fact that 19 lenders requested access to the KFC loan package gave my client a range of financing possibilities in a fast and easy way.”

RCA ultimately connected with Kevin Kim, senior vice president and chief lending officer at NewBank in Queens, N.Y., who is funding the deal.

"I am very pleased by the connections I've made on BoeFly, and this is another example of a successful business we found on BoeFly," Kim said.

“We take great pride in knowing that through BoeFly, another business owner has connected with a lender and obtained financing,” said Mike Rozman, Co-president of BoeFly.  “BoeFly makes the harrowing process of finding a loan much easier for a borrower to make the right connection.  We look forward to our continued growth of registered banks and to working with such reputable bankers as Kevin Kim.”

About BoeFly

BoeFly makes it easier to obtain small business loans 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 2,200 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. When completed, this provides the information that over 2,200 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 in a Strategic Alliance with the International Franchise Association to expand credit access to franchisees, offers a Franchise Solution that brings these benefits to the large and growing small business franchisee community and is the choice of over 100 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