A new franchisee in Atlanta secured a loan through BoeFly, the online lending marketplace connecting business borrowers and lenders.
In this case, despite the fact that the hair salon business was a start-up, the borrower secured an SBA loan to cover start-up costs such as building out their location and initial working capital. “What’s nice about a franchise deal, is a lender can underwrite that business by looking at the history of the franchise,” said Mike Rozman, BoeFly Co-President. The business owner efficiently built a financing request and connected with a wide array of lenders in their community and across the country. In the end they secured their loan from a lender in another state, something they couldn’t have done efficiently without BoeFly.
Kennedy’s Cuts in Atlanta Finds Start-up Financing: Radio Interview
Jump to time 1:38 for Kennedy’s Cuts discussion