New York, NY (PRWEB) March 31, 2014
BoeFly, the premier online marketplace connecting lenders with business borrowers, announced today a free webinar on Wednesday, April 16th at 2:00 pm ET, to highlight the key aspects lenders, franchisors, and borrowers need to know about the FICO SBSS.
A March 20th Wall Street Journal article covered how top franchise brands like Checkers Drive-in are using the FICO SBSS score to give franchise candidates confidence. In addition the Small Business Administration (SBA) now requires the SBSS score which makes the session a must-attend session for SBA and conventional lenders alike. Finally, small business owners are using the FICO SBSS to assess their own “fundability” before they set off on the lending process to saves time and reduce frustration.
This panel of experts assembled by BoeFly will share insights and address questions about the SBSS. The topics that will be discussed include:
- Why SBSS is relevant
- How smart Franchise brands are using SBSS to support growth
- How lenders leverage SBSS for SBA and conventional lending
- What the SBA lender new SBSS requirements are
-Jennifer Durham, VP of Franchise Development, Checkers Drive In Restaurants
-Morgan Johns, SVP SBA Lending Group, Conestoga Bank
-David Smith, Lead Consultant, FICO
- Michael Rozman, Co-President and Chief Strategy Officer, BoeFly
Who should attend: Franchise Executives, Lenders, Small Business Owners, Media
Register for the webinar here: https://www1.gotomeeting.com/register/145266528.
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 International Franchise Association to expand credit access within the franchise community, 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 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.