SOURCE: BoeFly, LLC

BoeFly, LLC

August 26, 2010 12:01 ET

New $30 Million Loan Portfolio Offered for Sale on BoeFly

Investors Invited to Review Over 30 Newly Posted Small Business Loans

NEW YORK, NY--(Marketwire - August 26, 2010) -  BoeFly, the premier online marketplace connecting lenders with business borrowers, secondary market loan buyers and professional service providers, today announced that a new portfolio of small business loans valued over $30,000,000 is now available for investor review on BoeFly.

Banks turn to BoeFly to sell loans as a way to improve liquidity. In the case of this latest portfolio, a BoeFly bank member is offering both performing and non-performing loans small business loans, including loans eligible for the SBA's 504 guarantee pool program established under the American Recovery and Reinvestment Act of 2009. Using BoeFly, banks maximize the exposure of their asset sales by making them available to a nationwide audience of potential investors. Since its launch on March 17, 2010, more than $1 billion in new small business loan origination and secondary market opportunities have been made available on BoeFly. 

"BoeFly connects banks with serious loan buyers, ranging from other banks to private equity funds and private investors," said Robert Tannenhauser, CEO of BoeFly. "With the escalating pressure on banks to improve their liquidity, BoeFly is providing the connection to serious investors when it matters most."

BoeFly powers small business loan sales by securely presenting the critical documents required by buyers. This latest loan portfolio contains more than 330 transaction documents for the loan portfolio, providing a timely and efficient means for banks to engage investors.

In addition to loan sales, banks are growing their loan portfolios with BoeFly connecting with business borrowers or their representatives seeking financing. In this way, BoeFly is helping to ease the small business credit crisis.

Investors seeking more information about this and other loan sales on BoeFly should contact Senior Vice President, Brian O'Boyle, at boboyle@boefly.com or (617) 381-4906.

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, 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 and Small Business Administration (SBA) loan pool assemblers, freeing up liquidity for even more small business lending.

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. www.boefly.com.

Contact Information

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