A start-up loan for a Meineke franchisee was recently secured from Conestoga Bank, a lender he met through BoeFly. As a first time small business owner, the Meineke franchisee was at first apprehensive about the likelihood of his ability to successfully secure a start-up loan for a Meineke with reasonable terms. Thanks to BoeFly, he was able to connect with more than fifteen lending institutions that expressed interested in the loan package that was created using BoeFly. As a result of the significant interest from multiple lenders the borrower was able to negotiate a rate and term he was comfortable with.
“My dedicated loan specialist at BoeFly made the financing process stress-free,” said the new Meineke franchisee. He was introduced to BoeFly vis-a-vis his franchisor which, like many franchise brands, maintains a partnership with BoeFly. “Fortunately, I chose to invest in a Meineke franchise, which supports its franchisees in many ways, one of the most important being financing. Meineke provided me full access to BoeFly in order to connect with a network of lenders and have the best chance of finding financing at competitive rates and terms,” said the franchisee.
“BoeFly was created to ensure business owners, like this Meineke franchisee, are not hindered by lack of access to capital when starting a business,” said Mike Rozman, Co-President of BoeFly. This new funding is a perfect example of the increased access to capital that Meineke and other franchises are able to provide to their franchisees through a partnership with BoeFly and the leveraging of its online marketplace.
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