Great Clips Franchisee Secures SBA Loan to Open Salon

BoeFly connects a Dallas, TX borrower with First National Bank Southwest for a start-up loan to open a Great Slips salon.

Dallas, TX (PRWEB) January 30, 2014

BoeFly, the premier online marketplace connecting small business borrowers with lenders announced that Mohammed Azam, a new Great Clips franchisee, secured an SBA guaranteed loan through a connection made by BoeFly. Great Clips is the world’s largest salon brand, with 3,000 salons throughout the United States and Canada.

“Thanks to BoeFly, I was able to obtain the loan I needed to open my first Great Clips location,” said new franchisee Mohammed Azam of Dallas, TX. “Now that the salon is open, I am glad to provide jobs for the staff and stylists, and to offer our clients great service.”

When Azam submitted his loan request to BoeFly, he posted 23 supporting documents, and the Great Clips brand presented six supporting documents. Eight lenders, including the bank that funded his loan, requested to view his loan package. Azam was connected with Paul Sutton, a commercial lender at First National Bank Southwest in Frisco, TX.

“If not for BoeFly’s convenient online platform, First National Bank Southwest would not have been able to connect with Mohammed Azam and provide him with the start-up capital he needed for his Great Clips location,” said Sutton. “We now have a new customer whose business we are excited to fund, and we will continue to seek out other lending opportunities,” Sutton continued.

Azam used BoeFly at the recommendation of Great Clips, which has selected BoeFly to assist its franchisees in obtaining bank financing.

“It is always exciting for us to hear about the opening of a new Great Clips salon, and for Mohammed Azam, this was made possible with the financing he received through BoeFly,” said Rob Goggins, Vice President of Franchise Development at Great Clips. “The Great Clips brand will continue its active commitment to supporting franchisees in all areas, including the key area of finance.”

“It is nice to work with a franchise system like Great Clips that supports franchisees throughout the entire process, including financing,” said Mike Rozman, Co-president of BoeFly. “Great Clips pointed Azam to BoeFly, where he was guided through building a bank-ready financing request and was matched with eight interested lenders. We look forward to our continuing to work with Great Clips in helping to support its franchisees.”

About BoeFly
BoeFly is the industry’s innovative on-line matching platform that reduces the time, cost, complexity, inefficiency and frustration associated with small business lending. Using BoeFly’s proprietary technology, small business borrowers connect with multiple lenders from among BoeFly’s more than 3,600 participating banks and specialty finance companies thereby enhancing their ability to obtain a business loan efficiently and on favorable loan terms. Lenders benefit by being presented with only those loan requests that fit their lending profile, dramatically lowering their cost and time of origination.

Borrowers build a complete decision-ready loan request securely online with BoeFly’s exclusive “SmartForm” application which, when completed, provides the information that more than 3,600 lenders nationwide indicated to BoeFly they want to see before moving forward with a loan request. The SmartForm is easy to use and guides borrowers through the process.

BoeFly is a strategic ally of the International Franchise Association, to expand credit access within the franchise community (http://www.boefly.com/ifa.cfm), and is the choice of more than 150 brands, including Dunkin’ Donuts, Carl’s Jr., and Kiddie Academy. .

Founded in 2010 by small business owners and small business lending experts, BoeFly’s marketplace has accommodated over $3.5 billion in transactions. For more information, visit http://www.boefly.com.

About Great Clips
Great Clips understands that with today’s fast-paced lifestyle, you need a salon that fits your schedule. That’s why we’re open evenings and weekends; no appointments necessary. At Great Clips, you can relax, because you know you will get an affordable, quality haircut in a comfortable, friendly salon.
Putting convenience directly into its customer’s hands, Great Clips launched the industry’s first Online Check-In service, allowing customers to add their name to the wait list of a Great Clips salon—before they arrive.
With more than 3,300 salons throughout the United States and Canada, Great Clips is the world’s largest salon brand. Great Clips salons employ nearly 30,000 stylists who receive ongoing training to learn advanced skills and the latest trends.

Taking care of others is an essential part of any service business, but Great Clips has really taken the idea of service to heart. Most important is the positive impact we try to have on our neighbors in the communities where we operate. Our salon owners get involved in these communities and our corporate office views them all as a whole with a broad, committed focus on philanthropic and volunteer activities.


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