Lakewood, CO Entrepreneur Gets SBA Loan to Buy Wingstop Restaurant Franchise

Borrowing money to buy 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 is doable. In 2001, Compass Bank issued an SBA franchise loan to an entrepreneur in Lakewood, Colorado. Because Wingstop Restaurant was registered with the SBA's registry of franchises, this Colorado small business loan was issued on an expedited basis.

SBA Loan Borrower

WINGSTOP RESTURANT
LAKEWOOD, CO 80226

SBA Loan Lender

COMPASS BANK
17218 PRESTON RD
DALLAS, TX 75252

This 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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/31/2001

Loan Approval Gross Amount

$204,000

Loan Approval from the SBA

Of the total $204,000 loan amount, the SBA guaranteed $153,000.

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 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Compass Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

Alternative Financing

Who Lends Money to Small Businesses in Dallas, Texas

Getting a Business Loan in Texas