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Online Financing Marketplace Helping SBDC Counselors Help Clients
With Financing
ASBDC Conference September 12, 2012
TM
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A marketplace for lending
Business Borrowers
$2B
Lenders 2,400+
BoeFly Marketplace
Loan Demand
Loan Supply
Making a Business Loan
Finding a Business Loan
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SBDC Free Fundability App www.boefly.com/sbdc
• No-fee for borrower to access
• Borrower enters basic, non-identifiable info
• Data contrasted with BoeFly’s registry of lender preferences
• Results present how many BF bank members are a match
• Understand strengths/weaknesses in your financing request and receive helpful whitepapers and tips
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Free Fundability Application TM
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Borrower Becomes Bank-Ready TM
Borrower completes an online financing request and uploads supporting documents
Borrower BEST
PRACTICES:
1. Being Bank-Ready
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Bankers Declare Their Preferences TM
Ensures the borrower is getting to the right lender
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Borrower’s Info is Matched Against the Preferences of 2400+ Lenders
TM
SmartForm
Universal App
BoeFly Bank Member
Preferences
One Application Multiple Banks
Presentation of compatible deals only
COMPATIBILITY
MATCHING
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Borrower’s Info is Matched Against the Preferences of 2400+ Lenders
TM
COMPATIBILITY
MATCHING SmartForm
Universal App
BoeFly Bank Member
Preferences
COMPATIBILITY
MATCHING
BORROWER
BEST PRACTICE:
2. Matching with the right banks
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A Banker’s Perspective – Deal Alert TM
Bankers are notified when deals match, but the borrower’s identity is not released
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A Banker’s Perspective TM
Bankers can quickly identify targets based upon a substantive, unidentifiable info
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Borrower Notified as Lenders Want Access TM
Borrowers sees the lender before the lender knows who the borrower is; the borrower is always in control
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Borrower Controls Which Lenders Gain Access and When
TM
Borrowers see who the lender is before the lender knows who the borrower is; the borrower is always in the driver’s seat
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Borrowers Control Which Lenders Gain Access
TM
Borrowers can share access to multiple lenders
BORROWER
BEST PRACTICE:
3. Create an Auction
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A Look at What Bankers See TM
Lender receives a notification when the borrower grants access
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A look at What Bankers See TM
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The Old Way
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The New Way = BoeFly
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A Case Study
“You have more options going through the Internet, by far.” - Joe and Debra Lukasik, Cleveland, Ohio Crains Cleveland Business
Experienced franchise owner, unsuccessful in obtaining financing from local banks
Posted deal on BoeFly Connected with 8 banks who requested his
full loan package online Local, regional and national lenders
Got loan through First Colorado Bank, 1500 miles away
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Questions TM
David Nayor
212 561-5959
Jessica Sarter
646 755-7433
www.boefly.com/sbdc