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November 15, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Dallas, Business Loans > Compass Bank Dallas Business Loans > Wingstop Loan | ||||
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Tennessee Small Business Funding for Franchises
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Compass Bank Provides SBA Loan to Buy Wingstop Restaurant FranchiseNeed money to invest in 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 too tough. In 2003, Compass Bank issued an SBA franchise loan to an entrepreneur in Nashville, Tennessee. Because Wingstop Restaurant was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis. SBA Loan Borrower WINGSTOP SBA Loan Lender COMPASS BANK This SBA loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 4/10/2003 Loan Approval Gross Amount $190,000 Loan Approval from the SBA Of the total $190,000 loan amount, the SBA guaranteed $142,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Wingstop Restaurant franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Compass Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Compass Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Family and Friend Investors - Your First Financiers Browse All Business Loan Sources for Texas
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