BoeFly and major promotional imaging products and services franchisor, Instant Images, collaborate to facilitate franchise loan acquisitions for existing and prospective Instant Images franchisees. Recently ranked by Entrepreneur Magazine as one of the Top 10 New Service Franchises, Instant Imprints recognizes the importance of efficient financing as potential franchisees look to expand Instant Imprint locations. Using BoeFly’s online loan exchange as an alternative to the traditional bank-to-bank approach, Instant Images franchisees can optimize time devoted to finding financing for their small business.
“We are a company that is in a rapid growth mode and poised to be the number one branding and promotional advertising chain in the US and Canada,” says Ralph Askar, President and CEO of Instant Imprints. “BoeFly’s online services will make it easier for our franchisees to secure the loans that they need to maintain and grow their stores.”
In order to keep up with the increase in demand for promotional product services, Instant Images offers BoeFly as a resource to franchisees searching for financing for their new business endeavors. BoeFly’s proprietary technology efficiently connects borrowers and lenders based on loan and credit criteria. Through a single posting of a loan request on BoeFly’s online marketplace, franchisees simultaneously reach thousands of lenders. When a borrower’s loan package matches a lender’s specific preferences for credit and lending, an email notifies lenders immediately of the deal on the marketplace. Therefore, BoeFly eliminates the time and frustration of small business owners by quickly connecting borrowers with lenders interested in making a deal.
“Today even top franchisors face a significant challenge – converting otherwise qualified franchisee candidates into ongoing, paying customers because of the difficulty they have accessing capital” said Mike Rozman, Co-president of BoeFly. “Franchise lending has been down by as much as 40% in the past two years due in part to the inefficiencies in the lending process that have been exposed by the financial crisis. BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend.”
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