"...The best part of using BoeFly’s online marketplace was that I was able to connect with multiple banks while not having to set a foot in them and waste anyone’s time until further along in the process,” continued Rykse.
Norton Shores, MI (PRWEB) July 02, 2014
Over the past few years in the United States, there has been a change in how people play a role in their own health. Dr. Michael T. Rykse took notice of this development and decided the timing was right to start up an AlignLife chiropractic and wellness center to provide natural healthcare to members of the community.
“In my case, franchising was ideal because of the marketing materials provided and group buying power,” said Rykse. “When it came to financing, I took a similar path. Knowing I wasn’t an expert in what it takes to get financing and had limited time, I turned to BoeFly to help with the process. The best part of using BoeFly’s online marketplace was that I was able to connect with multiple banks while not having to set a foot in them and waste anyone’s time until further along in the process,” continued Rykse.
Dr. Rykse ultimately received interest from 10 lenders in financing his loan before deciding to go with a regional lender.
Mike Rozman, BoeFly’s co-president, views this success story as a practical and encouraging solution to the widespread issue of small business credit access.
“Dr. Michael Ryke’s story represents a common concern of borrowers in that they do not have time to waste while looking for financing since they are simultaneously starting a business or expanding an existing business. BoeFly has taken an exciting step forward in using the internet to make the lives of lenders and small business owners more efficient. We are glad that we were able to help save Dr. Ryske time and money,” said Mike Rozman, Co-President and Chief Strategy Officer of BoeFly.
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.