Compass Bank Provides SBA Loan to Buy Wingstop Restaurant Franchise

Borrowing money to buy a Wingstop Restaurant franchise? Compass Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Wingstop Restaurant franchise? If so, here's a 2003 SBA franchise loan that you should know about. Compass Bank was the lender and the entrepreneur was based in Richmond, Virginia.

SBA Loan Borrower

WINGSTOP
RICHMOND, VA 23224

SBA Loan Lender

COMPASS BANK
17218 PRESTON RD, 2ND FL
DALLAS, TX 75252

This lender issued this loan under the SBA's 7A loan, 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.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/23/2003

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 a new business. This loan was used to buy a Wingstop Restaurant franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Richmond VA, you ought to talk with a local Richmond SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Richmond businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

Obtaining Funding - How to Borrow Money

SBA Banks in Dallas, Texas

SBA Lenders in Texas