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Business Loans in Pennsylvania for Business Owners

East Stroudsburg, PA Couple Targets Entrepreneurship and Independence

As a former truck driver, Mark Satterfield is used to being in the driver's seat. However, Mark and his wife Ebony, of East Stroudsburg, PA decided to take the road that seems less traveled, especially in the current economic environment. They decided to become small business owners and open up a restaurant. Trading in his trucking and her financial services careers, the Satterfield's both knew that the road to become small business owners could be long with many detours but also with great upside.

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Finding the Right Business Opportunity in the Pocono's

Healthy eating had always been on the menu for Mark and Ebony, but they knew that there would be increased challenges with opening a restaurant from scratch. From creating the menu to picking out a location - these were decisions that they would have to make which would be crucial to the success of the business. After careful review of the pro's and con's they decided that franchising would be a better option for them. They ultimately went with a Saladworks franchise, the number one Salad franchise in America. Saladworks is in its 25th year with 104 locations in 13 states and over 60 units in development. The decision to partner with Saladworks for the Satterfield's was a relatively easy one considering the vast amount of experience and support that the brand provides - they would have a great partner throughout the process, a major determining factor when deciding to purchase a franchise. And the couple was eager to open the first Saladworks in the Pocono's and decided on the Route 611 corridor in Bartonsville, PA.

Getting a Restaurant Loan in PA in This Economy?

Small business financing, however, was the concern for the Satterfield's and they would have to take many detours, pit-stops, and back roads in their search for the right small business lender. The couple took an unconventional approach and harnessed BoeFly (Huh? Watch the video!), the online marketplace that connects small business borrowers with more than 5,000 lenders nationwide, based on compatibility. Thanks to BoeFly the Satterfields connected with 13 interested banks with one loan request and obtained a $340,000 Small Business Administration (SBA) loan for their Saladworks and turned a potential detour into a shortcut.

A Network of PA Banks Online - A Better Way To Obtain Financing

Instead of the traditional process of going from bank to bank and submitting multiple loan applications, at the recommendation of Saladworks, Mark and Ebony learned about BoeFly. The platform works like match.com™ only instead of matching those looking for a date, it matches business owners with lenders.

"We found BoeFly incredibly easy to use, and were blown away at how many serious lenders we met"

BoeFly accounts for all of the details in a loan request and matches a business borrower with a business lender based on the credit preferences of the lenders. With over 5,000 national and local lenders on BoeFly, borrowers like the Satterfield's can find a serious lender quickly and efficiently. BoeFly enables a borrower to build one request online and can even help protect your credit by avoiding the multiple credit pulls that would typically happen each time a walk-in application happens at a bank.

Helping Business Owners Get Loans In PA

Mike Rozman, Co-President of BoeFly said "We're putting the borrower in the driver's seat," which certainly described the Satterfields' experience. Many businesses can go through a long, time consuming process of one loan rejection after another, never finding a loan or only after a time-consuming, stressful process. BoeFly provides borrowers complete control over which lenders can access their loan request. The banks and lenders on BoeFly proactively look for lending opportunities, as opposed to sitting in a branch waiting for borrowers to walk in. The Benefit to the lenders is the time saved by being presented with only those loan requests that fit their lending profile, dramatically lowering their cost of origination. In many cases the banks and lenders pass that savings onto the borrower in the form of reduced loan fees and interest rates. BoeFly, believes in an open marketplace - a much different approach than a broker model. BoeFly does not charge commissions or success fees like a professional loan broker may, which may limit the number of banks presented to a borrower. BoeFly is not just technology though - borrowers receive expert guidance in the form of our work with our concierge desk & premium services dedicated representatives.

Saladworks and Other Franchise Brands Help Borrowers Get Financing

"Saladworks franchisees have found success in the past with BoeFly and we use the service in an effort to support our franchisees with the challenge of financing"

Saladworks the Franchisor is a member of BoeFly and has been at the forefront of the credit issue. "Saladworks franchisees have found success in the past with BoeFly, and we use the service in an effort to support our franchisees with the challenge of financing," said Jason Mattes, vice president of development for Saladworks. "We are thrilled that the service helped the Satterfields become first-time owners, and are confident in the BoeFly platform and the future success it could bring to Saladworks Franchisees."

Over 125 Franchise systems are members of BoeFly from large brands like Burger King, Dunkin' Donuts, Jackson Hewitt and Pearle Vision to smaller brands like Lenny's Sub Shop, Pita Pit, Wild Birds Unlimited and PostNet. Along with Saladworks these brands know that financing is core to their franchisees as well as to the Franchise and have selected BoeFly to give their franchisees the best access to lenders in their local communities and nationwide.

Can I Find A Business Lender in PA Online?

BoeFly is bringing small business and commercial lending into the 21st century. We all use new and creative tools that allow us to access information, products and services through online marketplace platforms. Sites like ebay.com, match.com and lendingtree.com are all good examples. BoeFly will guide you through the process of building a professional, lender ready loan package so you are positioned for success. While we will connect you with lenders in your local area with one request, the real power comes into play when we connect you with lenders 2000 miles away who lend across the country. From start-up financing to refinance, working capital, machinery and equipment and inventory - there is no business loan use that BoeFly can't handle.