California Entrepreneur Secures Financing to Buy Wingstop Restaurant Franchise

Borrowing money to buy a Wingstop Restaurant franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Wingstop Restaurant franchise loans are available to Union City, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for a Wingstop Restaurant franchise in 2005. We've got all the details on this California small business loan.

SBA Loan Borrower

WINGSTOP
UNION CITY, CA 94587

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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

722211 - Limited-Service Restaurants

Loan Approval Date

12/7/2005

Loan Approval Gross Amount

$348,500

Loan Approval from the SBA

Of the total $348,500 loan amount, the SBA guaranteed $261,375.

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 indicated that the loan would help create 4 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

Business Cash Advances

Who Lends Money to Small Businesses in Livingston, New Jersey

SBA Lenders in New Jersey