off the press
Bill Fallon/ Keating Co. 212.925.6900
Round Table Pizza Selects BoeFly To Assist Its Franchisees In Obtaining Bank Financing
Pizza parlor franchisor to offer BoeFly’s Concierge Team Services to its franchisees nationwide
New York, NY - BoeFly, the premier online marketplace connecting lenders with business borrowers and a strategic ally of the International Franchise Association to expand credit access within the franchise community, announced today that Round Table Pizza, a pizza restaurant franchisor in the western United States, has selected BoeFly to assist its franchisees in obtaining bank financing.
Nearly half (49.2%) of the respondents in a recent survey by the International Franchise Association (IFA) of its members identified "financing/access to credit" as the top issue of concern to franchise business leaders. In response to this concern, and bolstered by its success in helping many individual franchisees obtain financing, BoeFly created a portfolio of services for the franchisor market. Through BoeFly, they can offer their franchisees access to a network of lenders through the posting of a single loan request on BoeFly's Internet-based loan exchange, assistance in creating an effective loan request, and support managing lender inquiries. BoeFly uses proprietary matching technology to connect franchisees with lenders that their loan package meets specific lending criteria, increasing franchise revenue by helping franchisees connect with the capital they need to open their businesses.
Round Table Pizza offers high-quality, innovative pizzas made fresh using family-farmed wheat, premium meats, whole milk cheddar, mozzarella and provolone, and selectively-picked produce. In business since 1959, there are now 450 Round Table Pizza restaurants operating in the western United States.
"Round Table Pizza is proud to provide a wide variety of pizzas that satiate every craving," said Keith Davis, the CFO of Round Table Pizza. “BoeFly’s convenient service will help our franchisees keep the focus on doing what they do best: operating their restaurants efficiently and offering a casual dining experience that is fun for the whole family.”
"Today even top franchisors face a significant challenge - converting otherwise qualified franchisee candidates into ongoing, paying customers because of the difficulty they have accessing capital" said Mike Rozman, Co-president of BoeFly. "Franchise lending has been down by as much as 40% in the past two years due in part to the inefficiencies in the lending process that have been exposed by the financial crisis. BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend."
About Round Table Pizza
Round Table Pizza was founded by Bill Larson in 1959 in Menlo Park, California. Larson was dedicated to providing the best quality pizza with the finest ingredients. Fifty-two years and 450 thriving restaurants later, Round Table Pizza continues its commitment to quality and authenticity by supplying its customers with freshly picked produce, premium meats, and quality cheeses. For more information, visit http://www.roundtablepizza.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 1500 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 1500 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 that brings these benefits to the large and growing small business franchisee community and is the choice of over 100 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.