Lenny’s Sub Shop Franchisee in Nebraska Secures $240,000 Loan to Open Shop
June 11, 2012 // Franchising.com // New York, NY – BoeFly, the premier online marketplace connecting small business borrowers with lenders and a strategic ally of the International Franchise Association (IFA) to expand credit access within the franchise community, announced today that Stephanie Klaus, a franchisee of Lenny’s Sub Shop in Omaha, Neb., secured a business start-up loan of $240,000 through a connection made by BoeFly. Lenny’s Sub Shop is a Philadelphia-style sub shop with 145 + locations in 19 states.
“It was my first time seeking a business loan, and Lenny’s was extremely helpful in positioning BoeFly as a resource for me to connect with a bank in my area and get the financing I needed to start up my franchise,” said Klaus. “Now that I have secured the loan, I look forward to opening for business and providing the highest-quality food and service to customers.”
When Klaus submitted her loan request to BoeFly, she received requests from 13 lenders to view her loan package. She ultimately chose to work with Rod Reisen, the Vice President of Business Banking at Centennial Bank in Omaha.
“This was my first time using BoeFly, and I was very pleased to meet a new business customer through the platform,” Reisen said. “I was impressed at how complete the financing request was, and it allowed my bank to move quickly to close the deal.”
Klaus used BoeFly at the recommendation of Lenny’s Sub Shop, which has selected the platform to assist its franchisees in obtaining bank financing.
“At Lenny’s Sub Shop, we are dedicating to ensuring franchisees like Stephanie Klaus have all the tools they need to run successful restaurants, and we recognize financing as an essential component,” said Brent Alvord, President of Lenny’s Sub Shop. “BoeFly has proven to be effective in helping some of our franchisees obtain startup funds and expand the Lenny’s brand across the country. We will continue to promote BoeFly as a very useful resource.”
“It is nice to work with a franchise system like Lenny’s Sub Shop that supports franchisees throughout the entire process, including financing,” said Mike Rozman, Co-president of BoeFly. “Lenny’s pointed Klaus to BoeFly, where she was guided through building a bank-ready financing request and was matched with thirteen interested lenders. We look forward to our continuing to work with Lenny’s in helping to support its franchisees.”
About Lenny’s Sub Shops
Lenny’s Sub Shop features AWESOME half pound subs with premium meats sliced to order and Authentic Philly Cheesesteaks served hot off the grill. Lenny's commitment to quality and fast, friendly service has helped Lenny's to become one of the most admired sub sandwich chains. Lenny's Sub Shop continues expanding with great franchise opportunities still available. Authentic Philly Cheesesteaks & The Deli Fresh Experience™ are why our loyal guests say they prefer a Lenny’s sub hands down to our competition. Why? Lenny's puts back what has been missing in the sub sandwich business - More Food, More Taste, More Personality!® For more information, visit www.lennys.com.
BoeFly makes it easier to obtain small business loans (http://www.boefly.com/) 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 over 2,200 participating banks, based on the lending profiles provided by the banks and the information provided in the borrower’s loan request.
Borrowers build a complete decision-ready loan request online using BoeFly’s exclusive “SmartForm” technology which, when completed, provides the information that over 2,200 lenders nationwide indicated to BoeFly they want to see before moving forward with a loan request. The SmartForm is easy to use and guides borrowers through the process. Once BoeFly’s matching technology identifies compatible lenders, borrowers then have complete control over which lenders can instantly access their loan request. Using 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 only 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 never charges transaction or referral fees.
BoeFly, now a strategic ally of the International Franchise Association to expand credit access within the franchise community (http://www.boefly.com/ifa.cfm), offers a Franchise Solution brings these benefits to the large and growing small business franchisee community and is the choice of over 90 brands including Dunkin’ Donuts, Carl’s Jr., Express Personnel and Kiddie Academy, among many others.
BoeFly’s Affiliate Solution is the financing exchange chosen by the Association of Small Business Development Centers, representing approximately 1,000 centers nationwide, which are funded in part by the U.S. Small Business Administration, to serve small businesses, and Franchise Gator, the leading site for information on franchise opportunities.
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. http://www.boefly.com.
Lenny's Public Relations
Manager of Marketing and Public Relations