Massachusetts-based indoor baseball and softball training franchise, Extra Innings, recently collaborated with BoeFly as it begins to expand the franchise nationwide. As the premier online marketplace for small business lending, BoeFly will aide Extra Innings as the company works to obtain bank financing for each new store opening.
Recognized as the premier Baseball and Softball organization in the country, Extra Innings offers state-of-the-art Training Centers and Locker Rooms. In order to help franchisees find financing for these two crucial aspects of the company’s business model, Extra Innings provides BoeFly’s technology and services as a resource to prospective franchisees.
“With BoeFly’s help, Extra Innings will have the capacity to grow and thrive as the country’s premier indoor baseball and softball training franchise,” said Michael Jamusik, Vice President of Franchise Development of Extra Innings.
“BoeFly’s convenient online platform offers a particularly valuable advantage for our franchises in connecting with lenders to finance Extra Innings facilities.”
Almost half (49.2%) of the respondents in a recent survey by the International Franchise Association (IFA) identified access to financing as the top issue of concern to franchise business leaders. BoeFly’s developed network of lenders combats this concern of small business owners. A single posting of a loan package on BoeFly’s online exchange will connect franchisees with thousands of potential lenders, and BoeFly will assist to create the most effective loan request to post. BoeFly’s proprietary technology connects these franchisees with lenders when loan packages meet the lender’s specific criteria. BoeFly enables lenders and franchisees to achieve higher revenues through an efficient lending process.
“Today even top franchisors face a significant challenge – converting otherwise qualified franchisee candidates into ongoing, paying customers because of the difficulty they have accessing capital” said Mike Rozman, Co-president of BoeFly. “Franchise lending has been down by as much as 40% in the past two years due in part to the inefficiencies in the lending process that have been exposed by the financial crisis. BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend.”
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