West Cary, NC (PRWEB) January 31, 2014
Taisha and Deepak Vazirani met while working as Financial Managers at AT&T-- this couple knows what it’s like to work together and grow a successful business. With more than 25 years of combined corporate experience, working at companies such as Campbell Soup, Proctor & Gamble, Polo Ralph Lauren, and AT & T, they were looking to take the skills they learned in the corporate world to start a Kiddie Academy® Child Care Center. After starting their own family and having three young children attend various daycare centers, the Vazirani’s developed a passion for early childhood education. They decided to take their passion for early childhood education to the next level by opening their first Kiddie Academy® Child Care Center.
The Vazirani’s found that 65% of mothers with children six years of age and under are in the labor force and more than 70% of single mothers have jobs outside the home. (National Economic Impacts of the Child Care Sector, prepared by M. Cubed, a consulting firm specializing in resource economics and public policy analysis, and sponsored by The National Child Care Association). Three-quarters of children under the age of five whose parents are employed outside of the home receive daily care from people other than their parents. (Primary Child Care Arrangements of Employed Parents, Freya L. Sonenstein, Gary Gates, Stefanie R. Schmidt and Natalya Bolshun, Urban Institute). Studies show that children who receive high quality, center-based child care receive many long-term benefits. The Kiddie Academy® system’s mission; “to awaken the possibilities through nurturing, learning and fun,” sets it apart from others in the child care industry. Based on the Vazirani’s research, they found the business model and child care industry compelling reasons to invest in a Kiddie Academy®.
“With our finance backgrounds, we knew what was involved in getting a small business loan, but that the process of going from bank to bank is tedious and antiquated,” said Deepak Vazirani. “Fortunately, Kiddie Academy® recommended we try BoeFly, saving us time and allowing us to focus on the other aspects of starting a business.”
BoeFly, announced today that Taisha and Deepak Vazirani, husband-and-wife franchisees of the Kiddie Academy® in West Cary, NC secured a small business start-up loan through a connection made by BoeFly.
When the Vazirani’s submitted their loan request to BoeFly, they received several funding offers from lenders. They ultimately chose to work with Dana Campbell, Vice President, Business Development Officer at First Chatham Bank, a regional bank in Georgia, primarily in Chatham County– more than 400 miles away from West Cary.
“If it were not for the BoeFly platform, we would never have connected with the Vazirani’s to fund their loan,” Campbell said. “This is now the second bank I have worked at, where I have leveraged BoeFly to efficiently connect with borrowers that fit my credit box. First Chatham is eager to connect with more qualified borrowers like the Vazirani’s through BoeFly.”
“At Kiddie Academy®, we offer our franchisees all the resources we can to support them in starting up and operating their child care centers for long-term success, and a large part of that support involves access to financing platforms, such as BoeFly,” said Susan Wise, CFO and COO of Kiddie Academy. “This success story proves the efficiency of BoeFly in getting our franchisees connected with the right lenders as conveniently as possible, and we will continue to promote it as an effective resource.”
“It is great to work with a franchise system like Kiddie Academy® that supports its franchisees throughout the process from the ground up,” said Mike Rozman, co-president of BoeFly. “Kiddie Academy® recognizes that helping its franchisees access financing more efficiently through BoeFly’s business lending made easy platform, allows the franchisees to focus on training, hiring, marketing, and all the other pieces that go into opening a Kiddie Academy® child care center.”
BoeFly makes it easier to obtain small business loans (http://www.boefly.com/) 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.
Borrowers build a complete decision-ready loan request online using BoeFly’s exclusive “SmartForm” technology 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. Once BoeFly’s matching technology identifies compatible lenders, borrowers then have complete control over which lenders can instantly access their loan request. Using 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 only 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 International Franchise Association to expand credit access within the franchise community (http://www.boefly.com/ifa.cfm), offers a Franchise Solution bringing these benefits to the large and growing small business franchisee community and is the choice of more than 125 brands, including Dunkin’ Donuts, Carl’s Jr., and Kiddie Academy, among many others.
BoeFly’s Affiliate Solution is the financing exchange chosen by the Association of Small Business Development Centers, representing approximately 1,000 centers nationwide, which are funded in part by the U.S. Small Business Administration, to serve small businesses, and Franchise Gator, the leading site for information on franchise opportunities.
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 New York City. http://www.boefly.com.
About Kiddie Academy®
For more than 30 years, Kiddie Academy® has been a leader in education-based child care. The company serves families and their children ages 6 weeks to 12 years old, offering full time care, before- and after-school care and summer camp programs. Kiddie Academy's proprietary Life Essentials® curriculum, supporting programs, methods, activities and techniques help prepare children for school and for life. Kiddie Academy is using the globally recognized AdvancED accreditation system, signifying its commitment to quality education and the highest standards in child care. For more information, visit http://www.kiddieacademy.com.