Wingstop Spreads Franchising Wings With Lending Facility

Wingstop has lined up $15 million in a lending program for new and existing franchisees. The financing will be provided through Franchise America Finance and The Bancorp Bank. Under the terms of the facility Wingstop has $15 million available to help finance franchisees in developing new restaurants. The chain opened its 500^th unit in December and plans to open 60 stores this year.

“This collaboration allows us to provide national funding for our current brand partners and new franchise candidates,” said David Vernon, the chain’s newly named sr. v.p.-development. “This funding will give us even more momentum as we grow the brand in new markets and expand within our core markets.”

Vernon, previously Wingstop’s v.p.-franchise sales, will oversee franchise development, construction and real estate departments for the 500-unit Richardson, Texas, chain. He spent 13 years at Sonic Corp. as v.p.-sales., and has held development posts at chains including Brinker Int’l. and Pizza Inn.