Coral Springs, FL Entrepreneur Gets SBA Loan to Buy Wingstop Restaurant Franchise

Need a loan to buy a Wingstop Restaurant franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Wingstop Restaurant franchise may simply require a phone call to a local SBA banker. In 2004, Banco Popular North America issued an SBA franchise loan to an entrepreneur in Coral Springs, Florida. Because Wingstop Restaurant was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

WINGSTOP
CORAL SPRINGS, FL 33076

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/19/2004

Loan Approval Gross Amount

$202,400

Loan Approval from the SBA

Of the total $202,400 loan amount, the SBA guaranteed $151,800.

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 only one employee. The SBA loan documents indicated that the loan would help generate 9 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Banco Popular North America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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