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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Beverly Bank & Trust National A Chicago Business Loans > The Wingstop Loan | ||||
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Best Banks for Evergreen Park, Illinois Business Owners
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Borrow Money to Buy a Wingstop Restaurant FranchiseNeed a loan to buy a Wingstop Restaurant franchise? Beverly Bank & Trust National A has a history of making these loans and they are guaranteed by the SBA. Wingstop Restaurant franchise loans are available to Evergreen Park, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Beverly Bank & Trust National A, based in Chicago, Illinois, issued an SBA franchise loan for a Wingstop Restaurant franchise in 2007. We've got all the details on this Illinois small business loan. SBA Loan Borrower THE WINGSTOP SBA Loan Lender BEVERLY BANK & TRUST NATIONAL A This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/19/2007 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 15 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Small Business Banks in Chicago, Illinois
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