Jamba Juice Engages BoeFly as Its Exclusive Franchisee Financing Partner
BoeFly Educates Candidates on Financing Options, Verifies Applicants’ Assets and Connects Franchisees with Financing
EMERYVILLE, Calif. & NEW YORK - (BUSINESS WIRE) - Apr. 29, 2015 - Jamba, Inc. (NASDAQ:JMBA), a leading health and wellness brand and the leading retailer of freshly squeezed juice, today announced that the Company has engaged BoeFly.com, the premier online marketplace connecting business borrowers with lenders, to accelerate the new franchisee development process and to deliver efficient and competitive financing for existing and new franchisees.
Jamba Juice is relying on BoeFly’s bQualTM tool to empower prospective franchisees to become educated about their financing options. bQualTM, BoeFly’s patent-pending, online education tool gives the candidate their FICO consumer credit score and their business credit score required by the Small Business Administration – the FICO SBSSSM, and prequalification offers from BoeFly’s 5,000+ lenders. Jamba Juice has engaged BoeFly to complete an independent asset verification on all new franchisee applications to deliver the timeliest execution.
Jamba Juice is also making BoeFly’s loan marketplace available to new and existing franchisees alike to make financing more efficient and competitive. The brand offers BoeFly’s Full Service financing support in which franchisees are matched with a dedicated financing expert to guide them through the process of creating a thorough bank-ready financing request and connecting with the right lenders from BoeFly’s marketplace.
“Our engagement with BoeFly signals our continued progress toward implementing initiatives that accelerate our move to a predominantly franchise system,” stated Karen Luey, executive vice president and CFO, Jamba, Inc. “The ability to provide financing alternatives from banks and lenders with our pipeline of franchisees will further accelerate our growth and development. Our partnership with BoeFly will allow our existing and new franchisees the opportunity to explore new financing alternatives and accelerates the deal process.”
“BoeFly has done some of our most innovative work with Jamba Juice,” said Mike Rozman, Co-president of BoeFly. “It is clear that the Jamba team know the importance of efficient capital access for franchisees. Jamba Juice’s new franchise development process is fast becoming the most cutting edge in the industry. For instance, Jamba Juice is one of the pioneering brands to integrate BoeFly’s solution into their development system – FranConnect. We look forward to supporting Jamba Juice’s strategic vision.”
About Jamba, Inc.
Jamba, Inc. owns and franchises Jamba Juice® stores through its wholly-owned subsidiary, Jamba Juice Company. Jamba Juice Company is a leading restaurant retailer of better-for-you, specialty beverage and food offerings, which include great tasting, whole fruit smoothies, fresh-squeezed juices and juice blends, hot teas and a variety of food items including, Energy Bowls™, hot oatmeal, breakfast wraps, sandwiches, Artisan Flatbreads™, baked goods and snacks. As of December 30, 2014, there were 868 store locations globally. There were 263 Company-owned and operated stores and 543 franchise-operated stores in the United States, and 62 franchise-operated international stores. Jamba Juice Company expands the Jamba® brand by direct selling of consumer packaged goods (“CPG”) and licensing its trademarks. CPG products for at-home enjoyment are available online, through select retailers across the nation and in Jamba® outlets in the United States. Fans of Jamba Juice® can find out more about Jamba Juice's locations as well as specific offerings and promotions by visiting the Jamba Juice website at www.JambaJuice.com or by contacting Jamba’s Guest Services team at 1-866-4R-FRUIT (473-7848).
BoeFly is the only online marketplace harnessing technology to dramatically simplify the execution of commercial transactions, including all loan origination and sales. BoeFly revolutionizes how deals get done by seamlessly connecting all parties, including lenders, borrowers, franchisors, investors, buyers and sellers to a potential transaction and facilitating the efficient completion of these transactions. For small business lenders, BoeFly also provides the ability to sell loans to investors freeing up liquidity for even more small business lending. BoeFly is a subscription service and does not charge any transaction fees.
Key to the success of BoeFly is the site's dynamic compatibility technology and comprehensive SmartForm loan application which matches parties based on a specific set of criteria. Also, to help BoeFly subscribers complete transactions, BoeFly offers online access to service providers in a wide variety of professions from appraisers, to closing attorneys, to environmental consultants.
BoeFly was founded by small business lending experts with extensive banking and secondary market experience. The company is privately-held and is based in New York City. http://www.boefly.com. Franchisors seeking to grow revenue by increasing the number of successfully financed franchisees please visit http://www.boefly.com/franchisor.
SOURCE Jamba, Inc.
Dir. Corporate Communications