New York, New York (PRESS RELEASE – October 21, 2010) – BoeFly, the premier online marketplace connecting lenders with business borrowers, secondary market loan buyers and professional service providers, announced a donation of BoeFly membership to all Small Business Development Centers (SBDCs) and their clients. The donation empowers small businesses working with SBDC counselors to most efficiently connect with compatible lenders.
America’s Small Business Development Centers (SBDC) are a nationwide network operating over 1,000 centers. The SBDC Network is dedicated to providing the consulting and technical assistance business owners need to make their dreams a reality. SBDCs have helped more than 1 million entrepreneurs in 2009; in 2008 SBDCs helped clients obtain $3.1 billion in financing.
“SBDCs provide a vital role for America’s small businesses,” said Robert Tannenhauser, CEO of BoeFly. “SBDCs deliver in-depth counseling and training to give a measurable advantage to entrepreneurs who are so important to the country’s economy. BoeFly will help more small businesses obtain the capital they need by broadening their access to lenders.”
“The ASBDC is pleased to team with BoeFly to help our small business clients most efficiently connect with more than 500 lenders from around the country,” says C.E. “Tee” Rowe, President and CEO of ASBDC. “Our current economic environment presents a historic challenge to small businesses seeking financing so BoeFly’s commitment to supporting the ASBDC mission is particularly timely.”
“BoeFly makes it easier for us to help our clients find financing,” said L.O. Nelson, Assistant Director of the Small Business Development Center in Wichita Falls, Texas, and BoeFly user. “I encourage all of my colleagues at the other centers around the nation to try BoeFly to see what results it can achieve for their clients.”
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, 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 which matches parties based on a specific set of criteria. Also, to help BoeFly subscribers complete transactions, BoeFly offers 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.
The Association of Small Business Development Centers (ASBDC) represents America’s Small Business Development Center Network — the most comprehensive small business assistance network in the United States and its territories.
The mission of the network is to help new entrepreneurs realize their dream of business ownership, and to assist existing businesses to remain competitive in the complex marketplace of an ever-changing global economy.
Hosted by leading universities, colleges, and state economic development agencies, and funded in part through a partnership with the U.S. Small Business Administration, approximately 1,000 service centers are available to provide no-cost consulting and low-cost training.