BoeFly Passes $1.5 Billion Milestone on Its Internet Loan Exchange in Its First Year of Operation
New York, NY, March 21, 2011 --(PR.com)-- BoeFly, the premier online marketplace connecting lenders with business borrowers, secondary market loan buyers and professional service providers, announced today that over $1.5 billion in loan transactions were posted on its Internet loan exchange during its first year of operation.
The $1.5 billion in loan transactions were generated by two major business activities during BoeFly’s inaugural year, helping small business borrowers get loans, and helping banks increase liquidity by selling loans. The total reflects the dollar amount of the loan requests posted by borrowers who used BoeFly to connect with banks to obtain commercial loans, as well as the dollar amount of loans posted by banks that used BoeFly to connect with investors who buy loans.
Additional key achievements recorded by BoeFly in its inaugural year include
· Over 500 banks subscribing to BoeFly
· Over 30 franchisors subscribing to BoeFly to assist their franchisees in obtaining business loans with several new franchisors joining every month since the launch of this program in January
· Partnerships with FranData, Dun & Bradstreet, America’s Small Business Development Centers, Entrepreneurship Bootcamp for Veterans with Disabilities, International Franchise Association key players in the franchising and small business lending community
· Over five lender connections made for each loan request posted to BoeFly
“BoeFly’s has achieved a great deal in its first year of operation despite a challenging small business lending environment,” said David Nayor, President of BoeFly. “While we are pleased with the progress and development of our business, we are most gratified by our role in helping small businesses obtain financing, which in turn gets people back to work.”
About BoeFly
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 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 which matches parties based on subscriber specific criteria. BoeFly’s secure online tools facilitate efficient completion of transactions. BoeFly also offers easy 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. For more information please visit www.boefly.com.
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The $1.5 billion in loan transactions were generated by two major business activities during BoeFly’s inaugural year, helping small business borrowers get loans, and helping banks increase liquidity by selling loans. The total reflects the dollar amount of the loan requests posted by borrowers who used BoeFly to connect with banks to obtain commercial loans, as well as the dollar amount of loans posted by banks that used BoeFly to connect with investors who buy loans.
Additional key achievements recorded by BoeFly in its inaugural year include
· Over 500 banks subscribing to BoeFly
· Over 30 franchisors subscribing to BoeFly to assist their franchisees in obtaining business loans with several new franchisors joining every month since the launch of this program in January
· Partnerships with FranData, Dun & Bradstreet, America’s Small Business Development Centers, Entrepreneurship Bootcamp for Veterans with Disabilities, International Franchise Association key players in the franchising and small business lending community
· Over five lender connections made for each loan request posted to BoeFly
“BoeFly’s has achieved a great deal in its first year of operation despite a challenging small business lending environment,” said David Nayor, President of BoeFly. “While we are pleased with the progress and development of our business, we are most gratified by our role in helping small businesses obtain financing, which in turn gets people back to work.”
About BoeFly
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 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 which matches parties based on subscriber specific criteria. BoeFly’s secure online tools facilitate efficient completion of transactions. BoeFly also offers easy 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. For more information please visit www.boefly.com.
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Contact
BoeFly
Bill Fallon
212-925-6900
www.boefly.com
Bill Fallon
212-925-6900
www.boefly.com
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