BoeFly, the premier online marketplace connecting lenders with business borrowers, announced today that Nothing Bundt Cakes, a leading bakery franchisor 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.