Infographic Highlights Franchise Lending Data and Trends in 2012

Feb. 18, 2013 - PRLog -- NEW YORK, N.Y. – In time for the International Franchise Association’s 2013 Annual Convention, BoeFly, the premier online marketplace connecting small business borrowers with lenders and a strategic ally of IFA to expand credit access within the franchise community, today published a new infographic highlighting franchise lending data and trends in 2012 (http://www.boefly.com/blog/franchise-finance/franchise-lending-2012-year-in-review).

The information in the infographic, developed from an analysis of SBA franchise loan volume and lending activity in 2012, includes the franchise sectors that received the most loans by count and dollar amount, the states whose franchisees received the highest dollar amounts in SBA franchise loans, the top SBA franchise lenders and the dollar amounts of SBA 7(a) versus SBA 504 franchise loans given last year.  

Highlights:

• Hotel/motel franchises received the most SBA franchise loans by both count (651 loans) and total dollar amount ($1,228,143,200), while the fast casual sector received the least SBA franchise loans by count (91 loans) and the hair salon franchises received the lowest dollar amount of SBA franchise loans ($23,717,400).

• Sandwich/sub franchises received the second-highest count of SBA franchise loans, with 369 loans last year, and gas station franchises saw the second-highest dollar amount of SBA franchise loans, with $127,194,800.

• California, Texas and Georgia made up the top three states with the highest dollar amount of SBA franchise loans:  $280,059,100 in California, $271,830,300 in Texas and $166,113,700 in Georgia.

• The top three SBA franchise lenders, based on the dollar amount of SBA franchise loans approved, were Hanmi Bank ($102,026,000), U.S. Bank ($69,844,211) and Wells Fargo ($44,555,000).

• SBA 7(a) franchise loans totaled $1,512,831,721 in 2012, while SBA 504 loans totaled $1,079,917,000.

“Small business growth and all the benefits to our nation’s economy that come with it depends heavily on credit access for franchisees in all sectors nationwide,” said Mike Rozman, co-president of BoeFly. “This infographic helps us better understand the key data and trends associated with franchise lending over the past year and underscores the importance of access to capital in contributing to franchise growth and job creation.”

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 more than 3,600 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 more than 3,600 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 bringing 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