Pittsburgh-area businessman connects with SBA lender First Niagara Bank for a startup loan to open business
PRLog - May 21, 2015 - NEW YORK -- BoeFly, the online marketplace for small business borrowers, announced today that new Maaco franchise owner Bob Johnston of Pittsbugh, PA, secured a startup loan from First Niagara Bank. Johnston was easily connected to First Niagara Bank through BoeFly’s network.
Johnston is an accountant with past experience as a finance executive at a multi-national company. With his background in finance, he anticipated that securing the funding required to open his Maaco franchise could be a challenge.
“Fortunately, I chose to invest in a franchise with Maaco,” said Johnston. “Maaco supports its franchisees in many ways, including connecting them with BoeFly, which was able to connect me with a network of qualified lenders with competitive rates and terms.”
BoeFly connected Johnston with 12 lenders that competed to win his business. First Niagara Bank ultimately won the business and provided the SBA loan.
"I'm thrilled to have met Mr. Johnston, a sophisticated entrepreneur through BoeFly,” said Christey Browne, VP and Business Banking Relationship Manager at First Niagara Bank.
Maaco connects new franchisees with BoeFly for startup funding and connects existing franchisees looking to grow and expand.
“Maaco is a go-to opportunity for business owners because of the comprehensive support and guidance we deliver to franchisees,” said Maaco President Jose Costa. “Financing is one of the key areas where we can help our franchisees succeed, and our partnership with BoeFly makes that a simple, seamless process.”
With more than 5,000 qualified lenders in its database, BoeFly is an integral part of the growth strategy for many startup and franchise-based businesses.
“BoeFly was created to make sure business owners like Mr. Johnston are not hindered by the lack of access to capital when starting a business” said BoeFly CEO Mike Rozman. “The more efficiently business owners can secure the financing they need, the more jobs get created.”
About BoeFly
BoeFly is the industry’s only on-line matching platform connecting small business borrowers with multiple lenders from among its more than 5,000 participating banks and specialty finance companies. By using BoeFly’s proprietary matching technology, borrowers have a greater probability of obtaining a small business 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 a strategic ally of the International Franchise Association, with the objective being to expand credit access within the franchise community, and is the choice of more than 125 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 $4.2 billion in transactions. For more information, visit www.BoeFly.com.
About MAACO®
Founded in 1972, MAACO® Auto Painting & Collision Repair is America’s #1 Bodyshop, and repairs accident damage, dents and faded paint for nearly 500,000 drivers annually. Our more than 450 independently owned and operated franchises have restored the safety and beauty of various vehicles for more than 40 years. MAACO Franchising, LLC, headquartered in Charlotte, NC, has been named the #1 automotive franchise numerous times by Entrepreneur in its Annual Franchise 500 ranking. For more information about MAACO and franchising opportunities, visit www.Maaco.com.
About First Niagara
First Niagara, through its wholly owned subsidiary, First Niagara Bank, N.A., is a multi-state community-oriented bank with approximately 390 branches, $39 billion in assets, $28 billion in deposits, and approximately 5,300 employees providing financial services to individuals, families and businesses across New York, Pennsylvania, Connecticut and Massachusetts. For additional information on First Niagara, visit us at www.firstniagara.com, follow us on Twitter @FirstNiagara, or like us on Facebook at FirstNiagaraBank.
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MAACO Franchisee Secures Small Business Financing via BoeFly.com
May 21, 2015 at 03:00 AM EDT
