Louisiana Entrepreneur Secures Financing to Buy Wow Cafe And Wingery Franchise

Need money to invest in a Wow Cafe And Wingery franchise? Resource Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Wow Cafe And Wingery franchise requires some effort but others before you have been successful. In 2003, Resource Bank issued an SBA franchise loan to an entrepreneur in Hammond, Louisiana. Because Wow Cafe And Wingery was registered with the SBA's registry of franchises, this Louisiana small business loan was issued on an expedited basis.

SBA Loan Borrower

WOW CAFE AND WINGERY
HAMMOND, LA 70403

SBA Loan Lender

RESOURCE BANK
5100 VILLAGE WALK, STE 102
COVINGTON, LA 70433

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/2/2003

Loan Approval Gross Amount

$104,500

Loan Approval from the SBA

Of the total $104,500 loan amount, the SBA guaranteed $88,825.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Wow Cafe And Wingery franchise. At the time of the loan, the company had 20 employees. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

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:

WOW Cafe & Wingery Franchising, LLC

Bank Credit Lines

SBA Participating Banks in Covington, Louisiana

Louisiana SBA 7A Banks