Comerica Bank Provides SBA Loan to Buy Wingstop Restaurant Franchise

Need money to buy a Wingstop Restaurant franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Wingstop Restaurant franchise requires some effort but others before you have been successful. In 2003, Comerica Bank issued an SBA franchise loan to an entrepreneur in Chicago Heights, Illinois. Because Wingstop Restaurant was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

WINGSTOP RESTAURANT
CHICAGO HEIGHTS, IL 60411

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/17/2003

Loan Approval Gross Amount

$217,000

Loan Approval from the SBA

Of the total $217,000 loan amount, the SBA guaranteed $162,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Wingstop Restaurant franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

WingStop Restaurants Inc.

Attracting Investors

Find an SBA Lender in Dallas, Texas

SBA Participating Banks in Texas