$2.872 Million South Jersey Bed and Breakfast Acquisition Financing Arranged Using BoeFly

Jessica SarterSmall Business Lending

BoeFly connects a New Jersey borrower with a Pennsylvania bank

BoeFly announced today that an SBA guaranteed loan of over $2.8 million for the acquisition of an Ocean City, NJ Bed and Breakfast was closed through a connection made by BoeFly.

Key to the transaction was broker Chris Miller of Evergreen Equity Partners LLC. according to borrower Val Reyes. “I turned to a professional loan broker – Chris Miller, to help us secure financing. I wanted to increase my probability of finding a loan by hiring a professional in the industry; someone who really knows the business and who is creative with his approaches,” said Reyes. Miller, President of Evergreen Equity Partners, and longtime BoeFly user, posted the financing request on BoeFly, the online marketplace connecting borrowers with lenders which is used by many professional loan brokers. “Considering the current market environment, I knew that getting a loan of this size would be a challenge,” said Chris Miller.

Miller posted the request on BoeFly where more than 500 lenders from around the country could access the deal. “I use BoeFly to ensure that my clients have extensive exposure to the most suitable lenders,” said Miller. “In the first few days that the Bed and Breakfast deal was posted on BoeFly, seven lenders requested access to the detailed package. I would not have found a lender for this deal, much less several to choose from, without BoeFly.”

A local bank in Eastern Pennsylvania loaned Val Reyes $2.872 million to acquire the Atlantis Inn, a Bed and Breakfast located in the resort town of Ocean City, New Jersey.

“We are in the business of helping small businesses and their business advisors like Evergreen Equity Partners, connect efficiently with lenders,” said David Nayor, Co-President of BoeFly.

Read more at pr.com