Meineke franchisee leverages lending solution to connect with an SBA lender in Pennsylvania to open first auto repair and car care business
PRLog - April 22, 2015 - NEW YORK -- BoeFly, a valuable lending solution for both established and first time business owners, today announced a successful funding for a franchisee of Meineke auto care centers, Del Siv Inc., a BoeFly client. Providing unparalleled exposure in the lending marketplace for business owners seeking loans, BoeFly took the time and tedium out of the loan process for the Meineke franchisee, helping the first time business owner secure a start-up loan from Conestoga Bank, a connection made via BoeFly.
“BoeFly was created to ensure business owners, like this Meineke franchisee, are not hindered by lack of access to capital when starting a business,” said Mike Rozman, Co-President of BoeFly. “The more efficiently business owners can secure the financing they need, the more we’re able to help people realize their dream and continue the creation of jobs in a variety of fields.”
The new Meineke franchisee, a proven engineering executive at multi-national companies, was committed to opening a trusted car care brand. The franchisee knew getting his auto repair and care business funded in this environment could be a challenge. Enter BoeFly, which dramatically simplified the loan process. Through BoeFly, Meineke offers franchisees access to several thousand lenders with the completion of a single loan request for faster start-up periods and better financing opportunities.
“Fortunately, I chose to invest in a Meineke franchise, which supports its franchisees in many ways, one of the most important being financing. Meineke provided me full access to BoeFly in order to connect with a network of lenders and have the best chance of finding financing at competitive rates and terms,” said the franchisee. “My dedicated loan specialist at BoeFly made the financing process stress-free.”
Through BoeFly’s marketplace, the franchisee was connected with 17 lending institutions that competed to win his business. One lender that the new franchisee found on BoeFly was from Conestoga Bank, who ultimately provided the SBA loan.
"I'm thrilled to have met and financed this Meineke franchisee,” said Jennifer Sandner, VP of SBA Lending at Conestoga Bank. “We have had great success in using BoeFly and this is just another example. We couldn’t have funded this worthy borrower from this storied franchise brand without BoeFly.”
Previously known as muffler repair experts, Meineke has evolved its product offerings to meet the demands of the changing marketplace. Today, the franchise has emerged as the one-stop shop for tires, brake repairs, tune-ups, alignments, shocks and struts, routine maintenance and more.
“Meineke is committed to strong, steady growth and has recently established several financing and incentive programs for new and existing franchisees. We’re committed to delivering proven support and guidance to our franchisees with financing being a crucial way we can help,” said Danny Rivera, President of Meineke. “BoeFly is a key partner that allows us the opportunity to streamline the loan process so franchisees can open the door to profitability sooner.”
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 (click here for more information), 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 Meineke®
Meineke Car Care Centers, LLC. is a division of Driven Brands, Inc., the leading automotive aftermarket franchisor in the world. Founded in 1972, Meineke has over 900 centers that service approximately 3 million cars a year. Over the years, Meineke has expanded its product offerings to better meet the demands of its customers and a changing marketplace. Meineke continues to be ranked as one of the best franchise opportunities in the country and has recently won top franchise rankings from Forbes, Franchise Times and Entrepreneur Magazine. For more information, please visit www.meineke.com.
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Business Owner Realizes Dream, Secures Loan, Opens First Business Using BoeFly
April 22, 2015 at 03:00 AM EDT
