Small-business loan platform surgesÂ
BoeFly ”“ an online “business opportunity exchange” that connects lenders with small-business borrowers ”“ has grown from several hundred to 1,500 platform lenders in one year.
Co-founded by a managing member of Treuhold Capital Group L.L.C. in Scarsdale and by the former CEO of BLC Financial Services, the subscription-based service closes the divide between commercial borrowers and banks originating small-business loans.
“If you”™re a borrower, you often want to know, ”˜Am I fundable?”™” said David Nayor, president of BoeFly. “There”™s no real repository of that information. That”™s why we built the fundability application ”¦ to help borrowers know how many lenders are interested in their loan request and what their weaknesses are.”
Nayor, a former loan originator for United Western Bank and institutional equity derivatives trader, said that overall, the process of credit underwriting has improved.
“We have franchisors who use BoeFly and who offer it to prospective franchisees,” he said of clients Dunkin”™ Donuts, Great Clips and Arby”™s, which utilize BoeFly to provide packaged loan documents to relevant lenders. “There”™s been more of an effort (by the bank or lender) to understand the business.”
On average, there are eight lenders for every loan request, though Nayor has seen as many as 20 lenders on a deal.
The website is boefly.com.
Seery Financial to hire 45
Northwestern Mutual”™s Seery Financial Group will grow its field force by adding 45 financial representatives and 25 to 30 college interns to its White Plains, Manhattan, Poughkeepsie and Newburgh offices.
“We”™re looking for professionals who can build long-term relationships with clients,” said Kristen DeFilippe, director of selection for Seery Financial. “Many of our clients work with the same financial representative over the course of 30 or 40 years. To succeed, you have to be passionate about building relationships and helping others achieve financial security.”
The company will be recruiting now until fall 2012 to fill the 45 positions.
Loan modification program
White Plains-based Community Housing Innovations has partnered with JP Morgan Chase to provide on-the-spot loan modifications Oct. 25-27 in downtown White Plains.
The CHI Fast Track Loan Modification program connects troubled homeowners with bank representatives for hour-long consultations.
Community Housing Innovations has held three prior Fast Track programs with Bank of America and Wells Fargo with 75 homeowners granted permanent loan modifications.
The Housing Action Council, Human Development Services of Westchester and the Putnam County Housing Corp. serve as program partners.
Interested homeowners should pre-schedule a Chase underwriting appointment by visiting Chigrants.org.
Rockland financial firm opens in county
Financial planning firm Eastern Planning Inc. has opened an office at 800 Westchester Ave. in Rye Brook.
“Since 1995, we have worked to establish ourselves in Rockland County, but our client base has grown significantly over the past 16 years and it just made sense to expand to Westchester,” said Beth Blecker, CEO of the company she runs with son and company president Matthew Blecker, in a statement. “We work with clients across Westchester, and Rockland Counties, Bergen County, N.J., as well as Connecticut, so offering a Westchester office location is more convenient for our clients.”
GEICO opens Scarsdale office
GEICO has opened a personal and commercial insurance office at 1088 Central Park Ave., Scarsdale, which will be run by 19-year field representative Weezie Mullaly.
Mullaly managed GEICO”™s sales division in New York, maintaining manager roles in customer service, sales and claims.
