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Lenny’s Sub Shop Franchisee in San Antonio Secures SBA LoanJune 19, 2012
BoeFly connects a San Antonio, Texas active military borrower with a bank for a start-up loan of $238,000 to open a Lenny’s Sub Shop franchise
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 Cody Roberson, a Lenny’s franchisee in San Antonio, Texas, secured an SBA-guaranteed loan of $238,000 through a connection made by BoeFly. Lenny’s Sub Shop is a Philadelphia-style sub shop with 145 + locations in 19 states.
“I knew financing would be a challenge, since I never had experience looking for a loan, and BoeFly’s service proved to be highly effective in connecting me with a lender,” said Roberson, who has 20 years of active military service. “With BoeFly’s help in the financial area, I am now focused on the opening of the sub shop and providing the authentic Philly cheesesteaks and the deli fresh experience that Lenny’s is known for.”
When Roberson posted his complete loan package onto BoeFly, 11 lenders requested to view his request. He ultimately chose to connect with BoeFly member Bill Hales, Executive Vice President and Chief Lending Officer at Sage Capital Bank, an independent community bank headquartered in Gonzales, Texas.
“As a BoeFly member, I have found that the platform makes it simple and efficient to source qualified borrowers like Cody Roberson,” Hales said. “I will continue to use BoeFly to bring more business to Sage Capital Bank.”
Roberson used BoeFly at the recommendation of Lenny’s, which has selected the platform to assist its franchisees in obtaining bank financing.
“Lenny’s chose to work with BoeFly in an effort to support our franchisees with the challenge of financing, and we are thrilled to learn that Cody Roberson has been successful in securing loans to open his shop,” said Brent Alvord, President of Lenny’s Sub Shop. “With our company growing very quickly, we will continue to support our franchisees in all areas, including the key area of finance with resources such as BoeFly.”
“It is nice to work with a franchise system like Lenny’s that supports franchisees throughout the entire process, including financing,” said Mike Rozman, Co-president of BoeFly. “Lenny’s pointed Roberson to BoeFly, where he was guided through building a bank-ready financing request and was matched with eight 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.
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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.