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May 3, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Beaumont, Business Loans > Midsouth Bank-Texas Beaumont Business Loans > Wingstop Loan | ||||
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SBA 7A Banks for Montgomery, Texas Business Owners
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Montgomery, TX Entrepreneur Gets SBA Loan to Buy Wingstop Restaurant FranchiseBorrowing money to purchase a Wingstop Restaurant franchise? Midsouth Bank-Texas has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Wingstop Restaurant franchise may simply require a phone call to a local SBA banker. In 2005, Midsouth Bank-Texas issued an SBA franchise loan to an entrepreneur in Montgomery, Texas. Because Wingstop Restaurant was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis. SBA Loan Borrower WINGSTOP SBA Loan Lender MIDSOUTH BANK-TEXAS This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started 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 1/21/2005 Loan Approval Gross Amount $206,000 Loan Approval from the SBA Of the total $206,000 loan amount, the SBA guaranteed $154,500. 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 12 employees. The loan application did not indicate that the company promised to use the loan proceeds to add 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 an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Midsouth Bank-Texas are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Banking Deregulation's Effects on Entrepreneurship Find an SBA Lender in Beaumont, Texas
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