BoeFly Logo
BoeFly Transactions
$
0

San Antonio Veteran Gets Small Business Loan - Launches Restaurant

Pre-Qualify for a SBA Loan

For the pre-launch of his Lenny's Sub Shop in San Antonio, Texas, Major Cody Roberson who has 20 years of active service in the Army, fittingly picked November 12th 2012, Veterans Day to give free subs to veterans who come in that day. The new Sub Shop will be located at 1015 Rittiman Road, San Antonio, TX. The launch is a culmination of months of preparation by Cody and his team - process and preparation a familiar concept for Cody with his military background. However, financing was one thing that was slightly outside of Cody's control considering the current tight credit environment.

Finding a Small Business Loan in San Antonio, Texas

New to business ownership Roberson did not know exactly what to do. Walk into a bank? Call up lenders? It all seemed a bit archaic considering that there are so many banks and lenders. How do you know which bank will make the loan and if you are getting the best rates and terms? That's when Lenny's Franchise, the corporate offices of Lenny's Sub Shop, told Roberson about BoeFly, the online lending marketplace helping borrowers find small business loans.

Veteran Cody Roberson Gets a Small Business Loan

"I knew financing would be a challenge, since I never had experience looking for a loan, and BoeFly's service proved to be highly effective in connecting me with a lender," said Roberson

Are Banks and Lenders Online? - A Better Way to Obtain Financing

Instead of the traditional process of going from bank to bank and submitting multiple loan applications, Cody securely built one loan application with supporting documents on BoeFly. The platform works like match.comTM only instead of matching those looking for a date, it matches business owners with lenders (Watch the video!). BoeFly matches borrowers with more than 5,000business lenders nationwide based on compatibility. Serious borrowers like Cody can find serious lenders quickly and efficiently. In Cody's case, 11 banks and lenders requested to view his TX small business loan request. He ultimately got a conventional loan from BoeFly member Bill Hales, Executive Vice President and Chief Lending Officer at Sage Capital Bank, an independent community bank headquartered in Gonzales, Texas.

"As a BoeFly member, I have found that the platform makes it simple and efficient to source qualified borrowers like Cody Roberson," Hales said. "I will continue to use BoeFly to bring more business to Sage Capital Bank."

Why Do Lenders Like Financing Veterans and Franchises?

Given the extensive training, discipline and responsibility that active service in the armed forces requires Veterans are perfect candidates for small business ownership. Further, the leadership and organizational skills are exactly what lenders look for in a business owner's skills that lead to success.

Entrepreneurs can be extremely successful by following a proven system and repeating that approach over and over. It takes discipline, which is nothing new to Cody because of his military background. However, franchising takes a tactical team approach. The franchise system, in this case Lenny's Sub Shop, provides an unbelievable amount of support from selecting a location, training, operation and systems support, financing and more. As a franchisee you have a team behind you who knows the system inside and out and can help every step of the way. Guess who else knows this? - Banks and Lenders. They not only underwrite the borrower, but they are looking at the strength of the franchisor and that can help with credit approvals.

"Lenny's chose to work with BoeFly in an effort to support our franchisees with the challenge of financing, and we are thrilled to learn that Cody Roberson has been successful in securing a loan to open his shop," said Brent Alvord, President of Lenny's Sub Shop. "BoeFly has proven to be effective in helping some of our franchisees obtain startup funds and expand the Lenny's brand across the country. We will continue to promote the platform as a very useful resource."


Can I Find a Business Lender in Texas?

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. Websites such as 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 and connecting you with business lenders in the San Antonio and Texas markets. While we will connect you with those local and regional lenders, 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.

Veterans Business Fund

Are you a veteran? The Veterans Business Fund may help you with additional equity if you lack the required capital. For more information visit The Veterans Business Fund.