Doug Cullinan has joined loan aggregator and financial technology company BoeFly as senior vice president. He most recently was the SBA franchise lead for Atlantic Capital Bank, and prior to that, SBA national sales director for Paragon Bank, also working in the franchise sector.
“We’ve known Doug throughout the years,” said Mike Rozman, BoeFly CEO, “and he was an active BoeFly user. He understands our value proposition.” Cullinan will be in business development, working with franchisors to build new relationships, as well as helping franchisees secure both SBA and conventional financing.
“We are expanding our business, and he knows SBA and conventional well,” said Rozman. “Doug is well suited for this position.” Part of Cullinan’s job, too, will be to help educate new franchisors on BoeFly’s bVerify product, which helps franchise brands conduct due diligence on potential franchisees.
“We know that franchising is all about access to capital for franchisees,” Rozman said. “Our view is, let’s make sure the brand has vetted the applicant and that they have the financial wherewithal to be a franchisee. And in doing so, we can unlock a financing option for them.”
Most of his career in franchise finance has been working on SBA loans, so getting to work on the conventional side is part of the appeal for Cullinan. “I’m excited to link up with Mike and work on other things, as well.”
Well-known for matching up start-up and smaller franchisees with SBA financing, BoeFly has expanded that to include those larger multi-unit deals, too. “In the first month, I’ve seen a $50 million Dunkin’ deal, and larger Denny’s and Primrose Schools deals. Hitting those complex deals is fun,” said Cullinan. “And, we’re working on some private equity deals, too.” You can contact Doug Cullinan at dcullinan@boefly.com, or at (404) 323-0441.
Article by Restaurant Finance. Volume 32, Number 12 • Restaurant Finance Monitor, 2808 Anthony Lane South, Minneapolis, MN 55418 • ISSN #1061-382X
