SOURCE: BoeFly

www.boefly.com

September 21, 2010 08:30 ET

Growing SBA Pool Assembler Buys Loans on BoeFly

NEW YORK, NY--(Marketwire - September 21, 2010) -  BoeFly, the premier online marketplace connecting lenders with business borrowers, secondary market loan buyers and professional service providers, today announced that Cohen & Company Securities, LLC ("Cohen & Company Securities"), Cohen & Company's registered broker-dealer, has selected BoeFly as a key component of its strategy for sourcing government guaranteed loans.

Cohen & Company Securities obtained its SBA pool assemblers license in 2009 and conducted extensive due diligence of various platforms for sourcing SBA loans. "Our analysis of the SBA market confirmed that BoeFly was the leading exchange for the sale of government guaranteed loans," said Steve D'Agostino, Managing Director at Cohen & Company. "We find that bidding SBA loans through BoeFly provides us with an efficient source of loans, allowing us to stay focused on providing competitive bids to lenders."

"Our team is thrilled that Cohen & Company Securities, a leader in fixed income products, has selected BoeFly to source government guaranteed loans," said Mike Rozman, of BoeFly. "By adding a new active pool assembler, we are delivering on our promise to our hundreds of bank customers to deliver new sources of demand for their SBA loans."

Bob Coleman, publisher of the Coleman Report, the leading information provider on small business lending, points out the importance of the announcement. "Cohen & Company's selection of BoeFly to efficiently source loans further enhances the value BoeFly's Internet marketplace provides to lenders to sell, then settle their SBA loans," 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 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.

About Cohen & Company
Cohen & Company is an investment firm specializing in credit related fixed income investments. Through Cohen & Company Securities, LLC, the company also provides institutional broker-dealer services focused on debt securities. With offices in Philadelphia, New York, Chicago, Washington D.C., San Francisco, Boston, Paris, London and Tokyo, Cohen & Company serves a diverse international network of institutional and individual clients. For more information about Cohen & Company, we encourage you to visit www.cohenandcompany.com.

Contact Information

  • Media Contact:
    Bill Fallon
    Keating & Co.
    (212) 925-6900
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