News

BoeFly's ZeeQual to assist Wayback franchise candidates

April 10, 2014

Wayback Burgers has partnered with BoeFly, an online marketplace connecting small business borrowers with lenders. BoeFly's ZeeQual solution will help individuals considering owning a Wayback Burgers access their small business credit score used by lenders and the Small Business Administration, along with extensive education information and loan prequalification offers for premium insight into their financial wherewithal, according to a company press release.

With the agreement, Wayback Burgers franchise candidates can access their bQual Report, which includes a statistically valid small business credit score, a consumer credit score, educational content explaining the scores, as well as insight into why they scored the way they did and how lenders typically view the score. With its patent pending technology, bQual is exclusively available online at BoeFly.com and can be securely accessed from iPads, tablets, smartphones and computers.

Each bQual Report delivered to Wayback Burgers candidates will contain loan prequalification offers from one or more of BoeFly's 3600 participating lenders, or an indication as to financing likelihood. No lender will have access to the business owner's identifiable information until the owner grants access, thereby preventing unwanted calls, said John Eucalitto, Wayback Burgers President.

"The biggest concern prospective franchisees have is whether they can get financing," he said. "BoeFly's ZeeQual solution eliminates those concerns by offering candidates the opportunity to see the same qualifying data used by lenders and the Small Business Administration," said John Eucalitto, Wayback Burgers President. "We're very excited about using this tool to help franchisees get prequalified."

BoeFly is able to offer bQual through a special relationship with FICO and Equifax. FICO, a predictive analytics and decision management software company, provides the FICO LiquidCredit Small Business Scoring Service, a Web-based instant credit solution, as part of bQual. Equifax, a credit bureau, provides the technology to authenticate every bQual user and is the exclusive provider of consumer and business credit bureau data to bQual, according to the release. Beyond these data and scoring partners, BoeFly leverages other key data including its own proprietary database of lender preferences from more than 3,600 lenders to produce the bQual Report.

Since launching its national expansion in 2009, Wayback Burgers has a presence across 24 states and operates in more than 80 locations.