Loan Census Banking News and Information
February 8, 2023  
 
 
  Business Loan Information  
 

Raising Money in Harvey, Louisiana With SBA Loans

 

 
Loan Census SBA Loan Info

Louisiana Entrepreneur Secures Financing to Buy Wow Cafe And Wingery Franchise

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

Getting money to buy a Wow Cafe And Wingery franchise shouldn't be overly burdensome. In 2006, Gulf Coast Bank issued an SBA franchise loan to an entrepreneur in Harvey, Louisiana. Because Wow Cafe And Wingery was registered with the SBA's registry of franchises, this Louisiana small business loan was issued on an expedited basis.

SBA Loan Borrower

J & J WINGERY LLC
HARVEY, LA 70058

SBA Loan Lender

GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/26/2006

Loan Approval Gross Amount

$247,200

Loan Approval from the SBA

Of the total $247,200 loan amount, the SBA guaranteed $185,400.

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 2 employees. This SBA loan request indicated that the loan would help generate 12 new jobs and retain 14 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Gulf Coast Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

WOW Cafe & Wingery Franchising, LLC

Investor Turnoffs

Banks in Abbeville, Louisiana

Getting an SBA Loan in Louisiana