The old way of driving to the nearest bank to request a small business loan is over. Now, franchise financing has become more streamlined. No need to have the stress of massive paper work and or worry about multiple hard credit pulls,thanks to BoeFly. Now, the process is quick, secure and efficient. You upload your information once, and within weeks we’re working with banks and lenders to get you approved.
bQual has given borrowers the ability to understand how they will look for financing, months before they may be ready to take that next step. The bQual tool has given bowers and lenders the opportunity to confidently start-up a new franchisees or grow their existing franchise locations. bQual gives each prospective owner their FICO and SBSS scores. In addition, franchise brands utilize bQual to educate their prospective franchisees on their unique funding situation. The Chief Executive Officer of BoeFly, Mike Rozman, illustrates that, “Franchise Finance Index will provide useful insight not just of franchises, but also for franchisor and lenders alike.”
The goal of the Franchise Index is to help “franchisors better indentify the right candidates, and conversely, we’re giving candidates the information they need to determine if they’re ready to take the next step into franchise ownership. In the end, it could lead to faster openings for the new business owners, while allowing the franchisor to eliminate financially unqualified candidates sooner, freeing up time to work with more qualified prospects,” said Nick Powills, Chief Brand Strategist of 1851 Franchise.
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