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April 20, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Elk Grove Village, Business Loans > First American Bank Elk Grove Village Business Loans > Culver's Loan | ||||
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Franksville, Wisconsin Bank Loan
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Loan to Buy Culver's Frozen Custard Franchise Issued By First American BankNeed money to invest in a Culver's Frozen Custard franchise? First American Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Franksville, Wisconsin and are interested in buying a Culver's Frozen Custard franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by First American Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower CULVER'S SBA Loan Lender FIRST AMERICAN BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 4/9/2001 Loan Approval Gross Amount $440,000 Loan Approval from the SBA Of the total $440,000 loan amount, the SBA guaranteed $330,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Culver's Frozen Custard franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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: SBA Banks in Elk Grove Village, Illinois Browse All Business Loan Sources for Illinois
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