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April 27, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Arlington, Business Loans > The Frost National Bank Arlington Business Loans > Wingstop Loan | ||||
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Is It Possible to Borrow Money for a Franchise in Desoto, Texas?
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Texas Entrepreneur Secures Financing to Buy Wingstop Restaurant FranchiseBorrowing money to buy a Wingstop Restaurant franchise? The Frost National Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Desoto, Texas needed money to invest in a Wingstop Restaurant franchise back in 2001. The Frost National Bank issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower WINGSTOP SBA Loan Lender THE FROST NATIONAL BANK This loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA promises a quick answer on whether the loan qualifies. 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 7/23/2001 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. 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 documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - How to Borrow Money SBA 7A Banks in Arlington, Texas
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