BoeFly Responds to Superstorm Sandy Crisis with Program to Accelerate Small Business Credit Access

Nov. 1, 2012 - PRLog -- New York, NY - BoeFly, the online marketplace connecting small businesses seeking financing with more than 2,400 lenders from around the country, has established a rapid response program to support those small business affected by Superstorm Sandy.  

The Federal Emergency Management Agency (FEMA) has worked tirelessly as immediate relief and first response teams have covered the devastated areas in the wake of Sandy.  However, natural disasters like Superstorm Sandy can have enormous extended impact on small businesses, both in a negative and positive way. Countless businesses damaged by the hurricane now face unavoidable and costly repairs. Other businesses instead face a far different challenge:  demand spiked by the hurricane for their products or services require rapid expansion capital.  BoeFly helps solve both challenges by enabling business owners to complete one simple form which is used to efficiently match them with multiple compatible lenders in BoeFly’s 2,400+ strong lender network that are ready to meet the needs of small businesses in the affected areas.  

“Small businesses are naturally resilient in the face of serious challenges like the one presented by Hurricane Sandy,” said Mike Rozman, co-president of BoeFly.  “Business owners must be able to quickly and efficiently access the capital they need to properly get back on their feet or meet unprecedented demand.  The efficiency that BoeFly brings to the commercial lending process is particularly important during crisis periods, when speed is essential.  Providing electronic access to more than 2,400 banks through a single loan request is a capability that provides businesses with their best chance of connecting with the capital they so urgently need.”

“At this critical time in our economy Superstorm Sandy can have a devastating effect on small business,” said Bob Coleman, publisher of the Coleman Report and a small business lending expert.  “I applaud BoeFly for taking the lead to support those small businesses during this challenging time.”

“Conestoga Bank recognizes the serious impact that Hurricane Sandy had on small business owners throughout the East Coast and remains committed to providing lending support in our communities,” said Morgan Johns, SVP of Conestoga Bank's SBA Lending Group. “We support BoeFly in all of their efforts to assist businesses in the wake of this disaster. Conestoga Bank will be waiving all SBA packaging fees on SBA loans associated with the recovery efforts."

Business owners affected by Sandy can access BoeFly services for free.  Visit http://www.BoeFly.com/Sandy (http://www.BoeFly.com/Hurricane) for more details.

Banks seeking information on how they can help reach more small businesses challenged by the hurricane should contact support@BoeFly.com.

About BoeFly

BoeFly is the only online portal to efficiently 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 more than 2,400 participating lenders, based on the lending profiles provided by the lenders 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 more than 2,400 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 more than 125 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