Louisiana Entrepreneur Secures Financing to Buy Wow Cafe And Wingery Franchise
Need a loan to invest in a Wow Cafe And Wingery franchise? Hancock Bank has a history of making these loans and they are guaranteed by the SBA.
Wow Cafe And Wingery franchise loans are available to Slidell, Louisiana entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Hancock Bank, based in Gulfport, Mississippi, issued an SBA franchise loan for a Wow Cafe And Wingery franchise in 2007. We've got all the details on this Louisiana small business loan.
SBA Loan Borrower
CKM ENTERPRISES, INC.
SLIDELL, LA 70461
SBA Loan Lender
HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501
This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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
722110 - Full-Service Restaurants
Loan Approval Date
12/31/2007
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $42,500.
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 10 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.
Next Steps for Getting an SBA Loan
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.
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