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April 26, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > New Orleans, Business Loans > Gulf Coast Bank & Trust New Orleans Business Loans > Wow Cafe & Wingery Severn Loan | ||||
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SBA 7A Banks for Metairie, Louisiana Entrepreneurs
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Metairie, LA Entrepreneur Gets SBA Loan to Buy Wow Cafe And Wingery FranchiseNeed a loan to purchase a Wow Cafe And Wingery franchise? Gulf Coast Bank & Trust has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Metairie, Louisiana needed money to invest in a Wow Cafe And Wingery franchise back in 2006. Gulf Coast Bank & Trust issued an SBA franchise loan. Here are the details on this Louisiana small business loan. SBA Loan Borrower WOW CAFE & WINGERY SEVERN SBA Loan Lender GULF COAST BANK & TRUST 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 2/17/2006 Loan Approval Gross Amount $340,000 Loan Approval from the SBA Of the total $340,000 loan amount, the SBA guaranteed $255,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Wow Cafe And Wingery franchise. At the time of the loan, the company had 25 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 28 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: WOW Cafe & Wingery Franchising, LLC Who Lends Money to Small Businesses in New Orleans, Louisiana
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