Lenny’s Sub Shop Franchisee in San Antonio Secures Start-Up Loan to Open Restaurant

June 27, 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 Cody Roberson, a Lenny’s franchisee in San Antonio, Texas, secured a conventional start-up loan of $238,000 through a connection made by BoeFly. Lenny’s Sub Shop is a Philadelphia-style sub shop with over 145 locations in 19 states.

“I knew financing would be a challenge, since I never had experience looking for a loan, and BoeFly’s service proved to be highly effective in connecting me with a lender,” said Roberson, who has 20 years of active military service. “With BoeFly’s help in the financial area, I am now focused on the opening of the sub shop and providing the authentic Philly cheesesteaks and the deli fresh experience that Lenny’s is known for.”

When Roberson posted his complete loan package onto BoeFly, 11 lenders requested to view his request. He ultimately chose to connect with BoeFly member Bill Hales, Executive Vice President and Chief Lending Officer at Sage Capital Bank, an independent community bank headquartered in Gonzales, Texas.

“As a BoeFly member, I have found that the platform makes it simple and efficient to source qualified borrowers like Cody Roberson,” Hales said. “I will continue to use BoeFly to bring more business to Sage Capital Bank.”

Roberson used BoeFly at the recommendation of Lenny’s, which has selected the platform to assist its franchisees in obtaining bank financing.

“Lenny’s chose to work with BoeFly in an effort to support our franchisees with the challenge of financing, and we are thrilled to learn that Cody Roberson has been successful in securing a loan to open his shop,” said Brent Alvord, President of Lenny’s Sub Shop. “BoeFly has proven to be effective in helping some of our franchisees obtain startup funds and expand the Lenny’s brand across the country.  We will continue to promote the platform as a very useful resource.”

“It is nice to work with a franchise system like Lenny’s that supports franchisees throughout the entire process, including financing,” said Mike Rozman, Co-president of BoeFly.  “Lenny’s pointed Roberson to BoeFly, where he was guided through building a bank-ready financing request and was matched with eight interested lenders.  We look forward to our continuing to work with Lenny’s in helping to support its franchisees.”

About Lenny’s Sub Shops

Lenny’s Sub Shop features AWESOME half-pound subs with premium meats sliced to order and Authentic Philly Cheesesteaks served hot off the grill.  Lenny's commitment to quality and fast, friendly service has helped Lenny's to become one of the most admired sub sandwich chains.  Lenny's Sub Shop continues expanding with great franchise opportunities still available.  Authentic Philly Cheesesteaks & The Deli Fresh Experience™ are why our loyal guests say they prefer a Lenny’s sub hands down to our competition. Why? Lenny's puts back what has been missing in the sub sandwich business - More Food, More Taste, More Personality!® For more information, visit http://www.lennys.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 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 which, when completed, 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 a strategic ally of the International Franchise Association to expand credit access within the franchise community (http://www.boefly.com/ifa.cfm), offers a 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