Del Taco has selected BoeFly, an online marketplace connecting lenders with business borrowers, to assist its franchisees in obtaining bank financing.
BoeFly's portfolio helps franchisors offer their franchisees access to a network of lenders through the posting of a single loan request on an Internet-based loan exchange, assist in creating an effective loan request, and support lender inquiries.
BoeFly uses proprietary matching technology to connect franchisees with lenders for which their loan package meets specific lending criteria.
"BoeFly will provide a valuable service for our franchisees to help them secure the capital they need to expand. Through BoeFly, our franchisees will find it much easier to access a network of lenders nationwide who understand the franchise industry," said Steve Brake, CFO of Del Taco.
Del Taco has more than 525 restaurants with nearly 80 more planned.
