Slidell, LA Entrepreneur Gets SBA Loan to Buy Wow Cafe And Wingery Franchise

Borrowing money to buy a Wow Cafe And Wingery franchise? Hancock Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Wow Cafe And Wingery franchise? If so, here's a 2007 SBA franchise loan that you should know about. Hancock Bank was the lender and the entrepreneur was based in Slidell, Louisiana.

SBA Loan Borrower

CKM ENTERPRISES, INC.
SLIDELL, LA 70461

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/17/2007

Loan Approval Gross Amount

$230,000

Loan Approval from the SBA

Of the total $230,000 loan amount, the SBA guaranteed $115,000.

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 no employees. The SBA loan application for the borrower indicated that the loan would help generate 30 new jobs and retain 30 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 Hancock Bank 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.

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