Mr. Sandless, a leading floor refinishing franchisor with more than 100 locations in eight countries, will now be harnessing BoeFly, an online marketplace that connects lenders with borrowers, to assist its franchisees in securing small business loans. The partnership will allow Mr. Sandless franchisees to more efficiently and effectively reach potential lenders in their efforts to secure small business loans to meet their franchise financing needs.
Mr. Sandless offers high quality floor refinishing services, employing a unique method that does away with sanders and instead makes use of a non-toxic solution before sealing floors with a Mr. Sandless custom finish. The Mr. Sandless brand is eager and anxious to grow but, like all franchisors today, must overcome the difficult barrier its potential and current franchisees secure necessary financing.
In fact, nearly half of the respondents to a recent survey conducted by the International Franchise Association (IFA) indicated that access to financing was the single greatest issue of concern to small business entrepreneurs interested in opening a new franchise. Fearful of their inability to secure a small business loan, many would-be small business owners shy away from trying to open or expand a franchise. That’s where BoeFly comes in: BoeFly has developed an online marketplace where borrowers can post a single loan package and instantly be connected with over 3,600 potential lenders whose credit parameters match posted loan package criteria. No longer having to go from bank to bank, borrowers can now significantly increase their chances of securing small business loans by efficiently and effectively connecting with multiple potential lenders at once.
“Partnering with BoeFly is a key initiative for my system in 2011. [BoeFly is] addressing a challenge that every franchisor faces: franchisee access to capital. With BoeFly, we expect that to be less of an issue in 2011, improving our franchise growth outlook.” – Dan Praz, President and CEO of Mr. Sandless
Mr. Sandless and BoeFly both look forward to partnering together so that Mr. Sandless franchisees across the country will have improved access to small business loans and, furthermore, that they will be able to engage in a more efficient and seamless process in order to secure them.
Read The Full Press Release Here: Mr. Sandless® Selects BoeFly to Assist Its Franchisees in Obtaining Bank Financing