Multi-Unit Operators Acquire Capital For Growth Through Franchising Solutions Platform
NEW YORK – July 23, 2021 – BoeFly, the leading financial technology company specializing in franchise solutions, announced today that multi-unit operators, Rakesh Kalotra and Rajesh Singh, have successfully secured financing to expand their franchising network through the company’s platform.
Three years ago, BoeFly assisted Kalotra and Singh in securing an SBA loan to acquire a single Checkers restaurant, an early step on their growth trajectory. Following the success of their existing units, the duo was ready to expand their operations and sought the help of BoeFly once again. BoeFly matched the multi-unit operators with a conventional lender who refinanced their existing debt and provided financing for a new restaurant.
“Franchise owners need to be thinking ahead and owning their growth strategy. BoeFly has always been there for us in that process, from helping us financing our early activity to now expanding our network,” said Rakesh Kalotra. “Their partnership has meant so much to us at a time when we needed it most and we are thrilled to have successfully transitioned from SBA to conventional financing, giving us a clear path for future development.”
“Checkers & Rally’s restaurants have relied on BoeFly for years to efficiently approve our new franchisees and to deliver them streamlined financing,” said Robert Bhagwandat, Checkers & Rally’s Director of Franchise Development. “Rakesh and Rajesh are top franchisees in our system and I’m thrilled BoeFly not only helped them in their start but has also now delivered conventional financing to accelerate their future development plans.”
With this latest financing, the franchising duo will be opening their eight Checkers restaurant. As drive-thrus continue to rise in popularity, the franchise owners expect to continue seeing success with the brand and are prepared for future growth with their line of credit.
“We’ve appreciated serving Checkers & Rally’s for more than 10 years. It’s particularly gratifying to be there for franchisees throughout their business lifecycle, whether they are just beginning or looking to expand their footprint,” said Mike Rozman, CEO and co-founder of BoeFly. “The BoeFly Team always enjoys seeing our clients return to us for their future needs.”
For more information on BoeFly or to learn more about how the company’s extensive suite of services could support your business, visit www.boefly.com.
Founded in 2009, BoeFly is a leading financial technology company that continues to deliver innovative online tools and solutions to accelerate business forward. Led by a team of franchising and finance industry experts, BoeFly specializes in identifying gaps in the marketplace and creating customized solutions to meet changing needs. The company has developed a proprietary Franchise Sales and Finance System to meet the core needs of franchise brands and small businesses throughout the entire process, from vetting franchise candidates to matching them with lenders who can move fast.
Through its data-driven system and robust online marketplace, BoeFly is able to connect borrowers to a wide array of banks and specialty finance companies, which has accommodated over $7 billion in transactions and supported more than 600 unique franchise brands. BoeFly’s pioneering technology and products have allowed the company to offer flexible options and serve businesses at all stages of development, from established brands with thousands of locations to emerging franchisors and startups. For more information, visit www.boefly.com.