Snelling Selects BoeFly To Assist Its Franchisees In Obtaining Bank Financing

Aug. 16, 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 to expand credit access within the franchise community, announced today that Snelling, a staffing service franchisor in a variety of industries, 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.

Snelling connects the best employers in a variety of industries and at various levels of experience to the best employees, including temporary, temp-to-hire and direct hires. Snelling’s goal is to partner with employers to find best-fit candidates that will help their business and their community succeed.

“Snelling is committed to connecting the right people with the right work by leveraging our expertise to measurably improve return on human capital investments,” said Michael Zimmerman, the Vice President of Franchise Operations and Development of Snelling. “A key part of our business is offering financing support to our franchisees, and we understand that BoeFly will allow our franchises to connect with a wide network of lenders so they can efficiently address their financing needs in order to operate successfully.”

“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 Snelling

Snelling was founded by staffing industry pioneers Lou & Gwen Snelling in 1951, and innovation has been a part of our culture ever since. From the first office in Philadelphia, Snelling has grown to serve more than 5,000 clients with 110 offices and franchises across the country and in Puerto Rico. We provide innovative solutions designed to meet your critical business objectives that foster creativity and continuous improvement. For our customers, we set the industry standards by employing staffing experts who uniquely evaluate and deploy the best skilled resources to achieve the outcome you need. We integrate a proven operating system to ensure measurably successful and rewarding outcomes for our employees and our clients, and provide engaged employees who are motivated to profitably impact your bottom line. For more information, visit http://www.snelling.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 that 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.

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keating/co
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