With more than 18 years of restaurant management experience between them,
Burger 21 recommended that their franchisees use BoeFly to obtain financing. "We were very happy with the fact that BoeFly allowed us to get in front of so many lenders with one loan application and lenders to whom we may never had the opportunity to submit our information," said Anderson.
After connecting with 18 different lenders on BoeFly, Stygles and Anderson were approved for an SBA start-up loan to finance the opening of their first Burger 21 location, which is slated to open next month in
Stygles and Anderson spoke with lenders from all across the country including lenders from
BoeFly, the premier online marketplace connecting small business borrowers with lenders and a strategic ally of the
Stygles and Anderson learned about BoeFly at the recommendation of Front Burner Brands, which is among more than 150 franchise brands that have selected BoeFly to assist their franchisees with financing support.
"Providing our franchisees with a tool to make the process of getting a loan more efficient is important as Front Burner Brands, and specifically Burger 21, continues to grow. The less time business owners have to worry about looking for financing, the more time they have to spend on starting up or expanding their restaurants," said
"The process of going bank to bank to look for financing is antiquated and inefficient. Furthermore, by limiting yourself to local lenders you may decrease your chances of getting financing or getting financing at the best rates and terms. It is always encouraging to see small business owners, franchisors and lenders taking advantage of more efficient solutions to seeking financing in today's tight small business loan market," said Rozman. "BoeFly has helped Stygles and Anderson, as well as many small business owners efficiently secure financing to start up or grow their businesses, and we look forward to continuing to work with reputable franchisors like Front Burner Brands and lenders, such as CRF to help drive small business growth and create new jobs."
To further fuel Burger 21's and The Melting Pot's expansion, Front Burner Brands is actively seeking qualified franchisees and will be exhibiting at the upcoming International Franchise Expo
Additionally, Burger 21 will host a live franchising webinar on
BoeFly makes it easier to obtain small business loans by reducing the time, cost, complexity, inefficiency and frustration associated with small business lending. Its online proprietary matching technology connects small business borrowers with multiple lenders from among its more than 3,600 participating banks, based on the lending profiles provided by the banks and the information provided in the borrower's loan request.
Before seeking a loan business borrowers can find out their fundability and may get prequalified for a business loan through bQual™. The bQual™ report will deliver a business borrower's FICO SBSS Small Business Credit Score (used by lenders nationwide and required for SBA loans), a personal consumer credit score and credit bureau report, and a detailed financing assessment of a borrowers fundability.
Integrating the bQual™ scores into the loan seeking process on BoeFly, borrowers can connect with multiple lenders quickly and easily, providing a greater probability of obtaining a loan, as well as more favorable loan terms resulting from the creation of a competitive marketplace. Lenders benefit by being presented with those loan requests that fit their lending profile, dramatically lowering their cost and time of origination. BoeFly is not a broker. Borrowers pay a small one-time fee and lenders pay an ongoing subscription fee.
BoeFly, now a strategic ally of the
BoeFly was founded by small business owners and small business lending experts with extensive small business lending experience. The company is privately-held and is based in
About Burger 21
With 12 locations open in
With more than 135 restaurants in
About Front Burner Brands
Front Burner Brands (formerly known as TGS Restaurant Management) is a restaurant management company headquartered in
Read the full story at http://www.prweb.com/releases/2014/06/prweb11952833.htm
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