Specialty bakery franchise, Nothing Bundt Cakes, collaborates with BoeFly to give prospective and existing franchisees access to BoeFly’s Concierge Team Services assisting franchisees to obtain bank financing. As a leading bakery franchisor, Nothing Bundt Cakes offers a high-quality products at reasonable prices. Dena Tripp and Debra Shwetz fulfilled their dreams of becoming entrepreneurs when they founded Nothing Bundt Cakes in 1997. Now, the two co-founders want to help potential Nothing Bundt Cakes franchisees achieve their career aspirations by providing BoeFly as a tool to secure bank financing.
“Nothing Bundt Cakes provides assistance for franchisees in accessing financing through its partnership with BoeFly.com. We have to be pro-active in this economy and we like to show our incoming franchisees the level of support they can expect from us in the very beginning,” said Debra Shwetz, Co-Founder of Nothing Bundt Cakes.
Almost half (49.2%) of the respondents in a recent survey by the International Franchise Association (IFA) identified “financing/access to credit” as the top issue of concern to franchise business leaders. Nothing Bundt Cakes and BoeFly collaborate to address this concern of potential Nothing Bundt Cakes franchisees. BoeFly will assist potential Nothing Bundt Cakes franchisees to prepare a bank-ready financing request, to post the loan package on BoeFly’s online loan exchange, and to manage lender inquiries. BoeFly uses proprietary matching technology to connect franchisees with lenders that their loan package meets specific lending criteria, increasing franchise revenue by helping franchisees connect with the capital they need to open their businesses.
“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, 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.”
To view the full press release click here.