Amy Reid recently secured financing for a new The Little Gym location in West Boylston, MA, through a connection made via BoeFly, the online marketplace for small business lending. BoeFly’s proprietary technology matched Amy with Brett Hucka, SBA Lending Officer at Stearns Bank, who ultimately helped Amy secure an SBA 7(a) loan.
“Amy is smart, capable and hard working,” said Brett, “and she was an incredibly well prepared small business loan applicant. It was an easy decision for us at Stearns Bank to decide to issue Amy a 7(a) loan for her startup Little Gym franchise.”
Amy didn’t know which banks would be interested or willing to extend a business loan to her for her Little Gym franchise and was therefore excited by the opportunity to harness the technology of BoeFly to do that work for her. She uploaded all of the necessary documents in one day and had a loan proposal from Stearns bank within a week.
“BoeFly was truly a great experience,” said Amy. “You hear so many horror stories about the process to secure an SBA loan and BoeFly made it easy. I was clear from the start what information and documents I needed, so in the end, there was no scrambling.”
The Little Gym provides BoeFly’s loan packaging service to both its existing and prospective franchisees at a discount. BoeFly’s proprietary technology then matches these existing and prospective franchisees with lenders based on lender loan package and credit preferences. BoeFly reduces the time, cost, and frustration associated with small business lending by allowing users to post a single, bank-ready financing request on BoeFly’s online marketplace that will reach potential lenders throughout the country who may be interested in financing the deal.
“BoeFly is an incredibly valuable resource for our franchisees to secure the financing they need quickly and efficiently,” said Mark Pickerel, Director of Financial Services of the Little Gym. “BoeFly is an incredibly valuable partner and their folks have always provided excellent service to our franchise owners both in evaluating their financing options and securing that financing. We are always confident referring Boefly and knowing they will be in great hands.”
“The process of going bank to bank to look for financing is antiquated and inefficient,” said Mike Rozman, CEO of BoeFly. “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 take advantage of more efficient solutions to seeking financing in today’s tight small business loan market. BoeFly has helped Amy and thousands of other entrepreneurs efficiently secure financing to start or grow their businesses, and we look forward to continuing to work with reputable franchisors like The Little Gym to help drive small business growth in America.”
About The Little Gym
With more than 300 locations in 30 countries, The Little Gym is the world’s premier enrichment and physical development franchise for children four months through 12 years. Our owners are backed by nearly 40 years of experience nurturing happy, confident kids through programs including parent/child, gymnastics, dance and sports skills, plus enjoyable extras like camps, Parentsʼ Survival Nights and Awesome Birthday Bashes. Each week, structured classes and a positive learning environment create opportunities for children to try new things and build self-confidence, all with a grin that stretches from ear to ear. For more information, visit http://www.thelittlegym.com.
About BoeFly
BoeFly helps prospective and existing small business owners secure fast, efficient and competitive financing through its online matching platform, which connects borrowers with lenders from among its more than 5,000 participating banks and specialty finance companies. 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 the leading franchise lending solution, having supported franchisees from more than 395 unique franchise brands since 2014, including Carl’s Jr., Meineke, Jamba Juice and Kiddie Academy.
Founded in 2010 by small business owners and small business lending experts, BoeFly’s marketplace has accommodated over $4.5 billion in transactions. For more information, visit www.boefly.com.
About Stearns Bank N.A.
Stearns Bank was founded in 1912, and Owner & CEO Norm Skalicky has led Stearns since 1964. Stearns Bank N.A. is a $1.9 billion top-ranked financial holding company based in Minnesota and nationwide preferred SBA lender, with bank locations in Minnesota, Florida, Georgia, Arizona, and a nationwide Equipment Finance Division. Stearns Bank ranks 1st in ICBA Independent Banker’s 2015 Best of the Best, based on Return on Average Assets among banks with $1 billion or more in assets nationwide. The registered trademark motto for Stearns is: “We get the job done!” For more information, visit www.stearnsbank.com.
Contact
Jessica Sarter
646-755-7433
