Funding: Great Clips - Start-up Loan

Anxious to run his own salon, Mohammed Azam decided to open a Great Clips franchise. Azam was very impressed with the support and training Great Clips provided, but first needed to secure financing.

Fortunately for Azam Great Clips is a member of BoeFly, the online marketplace connecting borrowers and lenders. On BoeFly he easily connected with eight lenders and secured an SBA guaranteed loan, in a short period of time. “Now that the salon is open, I am glad to provide jobs for the staff and stylists, and to offer our clients great service,” said Azam “Thanks to BoeFly, I was able to obtain the loan I needed to open my first Great Clips.”

Funding: Retail Store: Signworld (Business Opportunity), Start-up Loan

Charles Makarov, a former corporate executive, selected the Signworld business opportunity as his first entrepreneurial venture. He was diligent in selecting Signworld - he couldn’t have been more impressed with the state-of-the-art technology, training and support. But before he could get started he needed to secure start-up financing.

Fortunately Charles’s financing request was posted to BoeFly, the online marketplace that connects borrowers seeking loans with more than 1,500 business lenders. Thanks to BoeFly, Charles met a Dave Kahlhamer, a banker with Stearns Bank in St. Cloud, MN which is more than 1,000 miles from his future Alabama store, and secured an SBA loan.

Funding: Investment Real Estate, Multi-family apartment building, Refinancing

Management of the Ruxton Tower Limited Partnership was well aware that interest rates were at record lows, and was interested in securing a competitive refinance loan without the time-intensive hassle of going from bank to bank. Instead, they turned to BoeFly to most efficiently seek a refinance loan for its NYC apartment building.

BoeFly delivered by connecting partnership managers with 18 lenders, many in Manhattan but others as far away as California. The Partnership used BoeFly to secure historically favorable loan terms. What’s more, the borrower used BoeFly to securely and conveniently share documents to facilitate a smooth closing.

Funding: Essential Sealing Products, Inc. - Refinance Loan

Susan L. Pyle, President of Essential Sealing Products, Inc. a manufacturer of gaskets and sealing products near Cleveland, Ohio, was interested in expanding but first need new financing. Fortunately for Pyle her financing requested was posted to BoeFly, the online marketplace.

“I need to stay focused on manufacturing, not banking,” said Susan “The BoeFly team were very helpful in arranging my SBA loan, allowing me to expand my business with the capital I would have otherwise paid out as interest.” Twenty lenders requested access to the Essential Sealing Products loan package, giving Pyle a wide range of financing alternatives and time to focus on her business.

Funding: AlphaGraphics - Start-Up

Cindy and Ted Ferkenhoff, former corporate executives, were ready to start their own business. They specifically wanted to open an AlphaGraphics franchise, however first needed to secure financing.

Fortunately, the Ferkenhoff’s financing needs were posted to BoeFly, the online marketplace with more than 1500 lenders. According to the Ferkenhoff’s representative BoeFly worked perfectly, “In the first week the AlphaGraphics deal was posted, a half a dozen banks requested access to the detailed package. I would not have found the bank which made the loan to the Ferkenhoffs, without BoeFly.”

Read our Press Coverage:
BoeFly Creates Online Marketplace for Business Loans
Boefly, A New Online Marketplace, Matches Borrowers With Lenders

Funding: Carl’s Jr Multi-Unit Franchisee - Refinance Loan

BKI, founded by Bernard Karcher whose brother Carl founded Carl’s Jr., was the brands first franchisee, and now owns 25 Carl’s Jr. Restaurants. BKI used BoeFly to refinance.

“Using BoeFly.com was easy and when I finished I had a bank-ready financing request,” said Jim Deuitch, BKI’s Controller. “This isn’t the first time we’ve sought and secured financing, but with BoeFly it was certainly the most efficient. I built one bank-ready financing request instead of having to go from bank, to bank, recreating a package for each one. And even more valuable than the efficiency factor, we were approached by more than 20 banks including the bank that funded our loan.”

Funding: Hotel in Ocean City, NJ - Acquisition Loan

Val Reyes is owner/operator of New York hotels in the 400 to 800 room range and also owns a bed-and-breakfast in New Jersey. Reyes identified a hotel in Ocean City, NJ to acquire but first he needed $2.9 million in financing.

Reyes could have worked with the existing mortgage-holder but instead his financing request was posted on BoeFly to explore more competitive terms. Reyes received three term sheets from BoeFly lenders and ultimately secured his acquisition financing from a community bank he met on BoeFly. The terms were far superior, for instance requiring $300,000 less cash injection. Reyes was thrilled with the BoeFly results.

Read Our Press Coverage

Funding: Franchise Quick Service Restaurant in Las Vegas, NV - Start-up Loan

After a successful career in the US Army, Craig Rector became a Quiznos franchisee to realize the American dream. He loved the Quiznos product and knew he could sell it proudly. But first he needed financing.

Craig turned to BoeFly at Quiznos recommendation. Craig used BoeFly to complete one financing request which BoeFly matched with the right lenders out of the 1,500 which rely on BoeFly. Soon after, PMC Commercial Trust, nationwide commercial lender more than 1,200 miles from Craig’s Quiznos, stepped-up and issued Craig an SBA loan. Craig proudly serves amazing subs to his Vegas customers thanks in part to BoeFly.

Funding: Franchise Quick Service Restaurant in Cleveland, OH - Expansion Loan

After the local Subway franchise owner and his loan consultant, Joe Wojtowicz were denied a loan by more than five local banks, Mr. Lukasik chose not to wait any longer. He said he “robbed” his 401(k) of $100,000 to fund his third Subway shop, at Cleveland Hopkins International Airport, while Mr. Wojtowicz continued the hunt for money.

This time around, the consultant took a different tact. He placed the request for a loan before banks hundreds of miles away - without traveling a mile. In mid-October, Mr. Lukasik closed on a $300,000 loan with a Chicago bank in a deal struck on BoeFly, a new Internet site.

Funding: ‘Healthcare Staffing Business in New York, NY’ - Working Capital Loan.

Infinite Personnel, a New York City-based full service, temporary healthcare staffing company providing staff to local hospitals, nursing homes and other medical providers had been seeking a loan for close to a year without any success. Then, President of Infinite Personnel, Cary Weiss, and his professional loan broker, Chris Miller of Evergreen Equity posted the loan to BoeFly and success was achieved.

Infinite Personnel’s loan request was mathced to 11 interested lenders by BoeFly, in the first few days after the loan was posted on BoeFly’s loan marketplace. The loan was funded not long after by a bank half way across the country. Weiss couldn’t be happier.

Funding: ‘Contractor Supply Business in Beloit, KS’ - Working Capital Loan, Expansion

Direct Wholesale Inc, a Beloit, KS company prides itself on meeting the needs of leading contractors in Kansas and Nebraska. When Kurt Furwell, 15 year owner, began searching for financing he didn’t imagine BoeFly, an online exchange, would connect him to a Kansas community bank.

After posting on BoeFly, Furwell connected with many local, regional and national lenders and secured a loan from Midwest Community Bank in Plainville, KS. President and CEO of the bank, Deryl Schuster, emphasized, “My bank goes to where our customers are, and we know that busy entrepreneurs like Kurt depend upon the efficiency of the internet and BoeFly.”

Funding: ‘Franchise Pizza Restaurant in Rochester, MN’ - Start-Up Loan

Myron Allen of Rochester, MN was excited to open his new Topper’s Pizza, a fast growing pizza franchise, but needed to secure financing. Fortunately, Myron selected a franchise system that supports franchisees throughout the entire process - including financing. Toppers pointed Myron to BoeFly where he was guided through building a bank-ready financing request and matched with eight interested lenders.

Myron secured an SBA loan from a local lender and is on schedule to open his first Toppers. “BoeFly was easy to use and I was impressed with the lender matches. I’m grateful that Toppers positioned me to access BoeFly and clear this critical hurdle.”

Funding: ‘Specialty Retail Business in Rock Hill, SC’ - Start-Up Loan

Bird-lover, Lauren Mobley, was excited to open her Wild Birds Unlimited, a leading specialty retail franchise servicing bird aficionados. However, first she needed to secure financing. Complicating matters, Lauren was moving and didn’t know banks in her new community.

Fortunately, Lauren selected a franchisor that pointed her to BoeFly where she was provided with the tools and recommendations to build and position a bank-ready financing request. “This is my first time seeking a business loan and BoeFly gave me all the tools to accomplish this critical task,” said Lauren. “I’m really pleased Wild Birds Unlimited made BoeFly available and thrilled I met Palmetto Bank.”

Funding: ‘Franchise Business in Illinois’ - Expansion loan

Dan Moran, owner and operator of two Wing Stop locations in Northern Illinois knew his franchise was ready for growth. However, he needed financing. “When I looked for financing for our first Wing Stop the process was terribly frustrating. Going from bank to bank, having to repeat our story was inefficient,” said Dan.

Fortunately, Dan researched and selected BoeFly for recommendations on building and positioning a bank-ready financing request, to ultimately receive a match for financing. “I’m really excited to expand the Wing Stop franchise,” said Dan. “It’s happening because of my ability to close my loan with a lender I found on BoeFly.”