Ice House America Selects BoeFly To Assist Its Franchisees In Obtaining Bank Financing

Aug. 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 to expand credit access within the franchise community, announced today that Ice House America, the pioneer in automated ice vending technology, 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.

Ice House America recently created its franchise program to further expand its existing network of over 2,400 locations, which collectively produce over one billion pounds of ice per year. There are over 100 corporate-owned locations with the balance independently owned and operated.  

Ice House America manufactures a 24/7, convenient retail ice destination that provides a soft, chipped and chewable ice, which is typically offered in 20 lb. bulk (direct to cooler) and 16 lb. bags -- always filtered, clean and made on demand.  Ice House America’s flagship model can additionally vend filtered water in bulk.

“Ice House America is looking for entrepreneurs who are seeking a low cost and fully automated business venture with minimal overhead and maintenance required to operate,” said Pete Cotter, President and CEO of Ice House America. “With the help of BoeFly’s service, our franchisees can worry less about financing their business and concentrate more on expanding it.”

“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 Ice House America

Ice House America, headquartered in Jacksonville, FL and founded in 2003, already has more than 2,400 independently owned ice house locations in 27 states and four countries.  In less than 10 years, Ice House America has become one of the top ice brands in the country.  Ice House America offers four different models, ranging from the “Ice House” to the “Mini” -- all manufactured at a 160,000 sq. ft. integrated manufacturing facility located in Moultrie, GA.
For more information, visit http://www.icehouseamerica.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 2000 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), 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