September 27, 2010 15:25 ET Stimulus Discount to Support the Small Business Jobs Bill Signed Into Law by President Obama

BoeFly Solves Systemic Problem That New Law Doesn't

NEW YORK, NY--(Marketwire - September 27, 2010) -  BoeFly, the premier online marketplace connecting lenders with business borrowers, secondary market loan buyers and professional service providers, today announced a Stimulus Discount for small businesses seeking financing. The discount is intended to support the bill aimed at stimulating small business lending signed into law by President Obama earlier today.

BoeFly is immediately reducing the one-time membership fee that small businesses pay to post a financing request on the market-leading loan origination marketplace. The price is being dropped from $465 to $99, a more than 75% reduction.

"This Small Business Lending Bill brings much needed help to small businesses by temporarily eliminating borrower fees on SBA loans, allowing borrowers to refinance existing debt with low cost SBA 504 loans, and offering capital to community banks for as low as 1%, to name a few, " said Robert Tannenhauser, CEO of BoeFly. "But the law doesn't solve the systemic problem of borrowers efficiently finding a lender most interested in their unique business. Too often businesses go from bank to bank, wasting precious time and potentially negatively impacting their credit. BoeFly solves this problem with powerful matching technology so borrowers are presented to lenders most interested in pursuing a financing."

"I use BoeFly as an efficient and cost-effective way to connect with small businesses," said Jana Rouble, a vice president at Community South Small Business Lending in Dallas, Texas. "BoeFly is providing an important service to business owners and this discount gives important help in this challenging economic time."

Bob Coleman, publisher of the Coleman Report, the leading information provider on small business lending, points out the importance of the BoeFly discount. "BoeFly has evidenced how it can match businesses borrowers with serious lenders and this discount is a boon for small business," said Coleman.

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 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.

Contact Information

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    Keating & Co.
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