Loan to Buy Wing Zone Franchise Issued By Wells Fargo Bank

Borrowing money to invest in a Wing Zone franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Waco, Texas needed money to invest in a Wing Zone franchise back in 2002. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

WING ZONE
WACO, TX 76706

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/16/2002

Loan Approval Gross Amount

$138,000

Loan Approval from the SBA

Of the total $138,000 loan amount, the SBA guaranteed $117,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Wing Zone franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels 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. Wells Fargo Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wells Fargo 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:

Wing Zone

Obtaining Funding - Getting Venture Capital

Best Banks in Sioux Falls, South Dakota

South Dakota SBA Banks