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November 15, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Wingstop Loan | ||||
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Good Sources for Gainesville SBA Loans
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Gainesville, FL Entrepreneur Gets SBA Loan to Buy Wingstop Restaurant FranchiseBorrowing money to purchase a Wingstop Restaurant franchise? Compass Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Wingstop Restaurant franchise shouldn't be overly burdensome. In 2001, Compass Bank issued an SBA franchise loan to an entrepreneur in Gainesville, 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 SBA Loan Lender COMPASS BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 9/10/2001 Loan Approval Gross Amount $194,400 Loan Approval from the SBA Of the total $194,400 loan amount, the SBA guaranteed $145,800. 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 2 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $194,400 loan. Remember, things become real when you believe you can achieve them! 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: Microlending as a Small Business Funding Source SBA 7A Banks in Birmingham, Alabama
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