Originally published on June 6th, 2013 on The Gazette. Read Original → What it takes in this day and age to develop a brand, from conception to launch. Line up your financing For most operators launching a brand for the first time, securing financing will be the trickiest part to the process. Mike Rozman is the co-president and chief strategy officer at Boefly, an online marketplace that matches borrowers with compatible lenders, eliminating the need to travel from bank to bank. Boefly has provided services to quick-serve clients such as Arby’s, Jamba Juice, Del Taco, Dunkin’ Donuts, and Hardee’s. Rozman says it is critical that the borrower is prepared to seek a range of financing opportunities, adding that outside expertise is sometimes necessary to figure out what those … [Read more...]

This article originally appeared in Franchising World, May 2013.  Read the Original → Nine years ago, Shilo Harris had probably never envisioned becoming a franchise business owner. At that point, Harris was just beginning his deployment in Iraq, where he served two tours as a cavalry scout in the U.S. Army. Three years later, in February 2007, his life changed completely when the Humvee he was riding in hit a roadside bomb near Baghdad. He miraculously survived, despite severe injuries. Harris, who now lives in San Antonio, made an incredible recovery and retired for medical reasons in 2010. Then he thought about what was next. “I knew that readjusting to civilian life wouldn’t be easy,” he said. “After taking some time to think through my options, I realized … [Read more...]

Originally published on May 9th, 2013 on The Gazette. Read Original → Alexander and Julie Tischuk of Tipton were looking for a way to remodel their Hardee’s restaurants. Stearns Bank in St. Cloud, Minn. was looking to make an investment in such an endeavor. Naturally, the two connected, thanks to the financing website BoeFly.com. What exactly is BoeFly? The website connects borrowers and lenders in order to provide small business loans, commercial loans and franchise financing. “We got started in trying to address a problem that’s been out there for a while, which is the process of securing loans,” said Mike Rozman, BoeFly’s CEO. “The alternative has always been, borrower will knock on the bank’s door. We started BoeFly with the idea that it should be a … [Read more...]

By: William Seay A bust of the Bard himself sits vigilant atop an elaborately decorated fireplace. Twin dragons guard the staircase. There's stained glass at every corner. The tile on the floor is just as elaborate. "I think this is one of the most elegant interiors I've ever seen," said Isobel McGowan, who bought the Victorian mansion in May of 2012. McGowan bought the house with every intention of restoring it into a luxury bed and breakfast. "We were fortunate that this house had been a bed and breakfast in the '90s," she said. "So a lot of the plumbing work, the bathrooms, and sleeping rooms were already there.  We didn't have to do anything there except to make repairs and clean them up." The new owner and innkeeper has invested nearly $750,000 into the purchase … [Read more...]

By Jennifer Hall St. Joseph News-Press Purchasing a historic home on Hall Street was the result of a whimsical road trip for Isobel McGowen. Turning the 19th century mansion into a business, however, was a product of her ambition. The Colorado native had accompanied a friend, and business partner, to St. Joseph to check out another classic mansion, the Kennedy House on Museum Hill. Ms. McGowen quickly became fascinated with the town’s rich history and architecture. Fast forward a decade later and she decided to put in an offer on one particular home that suited her. “I couldn’t believe the architecture and the amazing stuff up here,” she said. “It was selling at such an unbelievable low price compared to Denver real estate,” she said. “It was this terrific … [Read more...]

Originally Posted in Franchise Times  Read Original→ "Sometimes banking is stuck in the ‘70s and ‘80s,” said banker Morgan Johns with Conestoga Bank in Pennsylvania. “You have to look outside the box.” Which is precisely why he attended BoeFly’s Franchise Lending Spotlight Conference, held April 3 in suburban Boston. BoeFly, the online marketplace that connects franchisees and their loan applications to lenders and banks nationwide, hosted the event so local and regional bankers in the Northeast could hear franchisors’ 30-minute presentations on their opportunity. “The purpose of the conference matches BoeFly’s mission, which is empowering lenders to find qualified borrowers,” said Mike Rozman. “It’s our strong belief when lenders are better educated about … [Read more...]

What kinds of resources do you offer franchisees? Hurricane Grill & Wings currently has three key partnerships to assist our franchisees. As of last October, we have $10 million in financing available to new and existing franchises from Mount Pleasant Capital. This financing program provides qualified franchisees with up to 75 percent of the funds necessary to open a new location. Another partnership is with BoeFly, an online marketplace that gives current and potential franchisees access to a consortium of 22,000 banks that will bid for the business of franchisees. We have found it to be an extremely efficient resource, with a high level of success. Hurricane Grill & Wings is also an approved member of the United States Small Business Administration and our documents conform to … [Read more...]

Les Davis, a native and resident of Richmond, and his wife Claudia have opened the only TCBY self-service frozen yogurt franchise in Henrico at 9468 W. Broad St. They chose to open the store primarily because it is an established brand and also because their location is a storefront on West Broad Street. The Davises used BoeFly for their start-up SBA loan. The Davises have an entrepreneurial background; before retiring in the early 2000s, they sold the company they founded, Focus Packaging, which produced packaging for products such as Irish Spring soap and Crest and Colgate toothpaste.             Read more business briefs at The Henrico Citizen. … [Read more...]

Earlier today, BoeFly President Mike Rozman spoke with Bob Coleman of the Coleman Report about the state of Franchise Lending and BoeFly's Franchise Lending Spotlight Conference which will be taking place April 3rd, 2013 in Waltham Massachusetts. You can watch the full video here. If you would like to learn more about the Franchise Lending Spotlight Conference, please click here. … [Read more...]

Originally published in Franchise Direct.  Read the original article here. By: Holly Lewis Access to credit continues to be one of the primary interests of franchise partners and each year there are trends that highlight which sectors and banks are receiving the most lending overall, including Small Business Association (SBA) loans.  With Boefly’s latest franchise lending index, we can consider some of the noteworthy lending stats in 2012. - Top states receiving over $250 million in funding through SBA loans include California and Texas, with runners up in Georgia and Florida receiving between $100 and   $150 million in loans throughout 2012 - 504 Loans with a focus on real estate transactions were at a $1,079,917,000 in 2012 vs. 7A loans, which are the more commonly … [Read more...]