Borrow Money to Buy a Culver's Frozen Custard Franchise

Borrowing money to invest in a Culver's Frozen Custard franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Culver's Frozen Custard franchise loans are available to Hemlock, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Stearns Bank, based in Saint Cloud, Minnesota, issued an SBA franchise loan for a Culver's Frozen Custard franchise in 2003. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

CULVER'S FROZEN CUSTARD & BUTT
HEMLOCK, MI 48626

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/2/2003

Loan Approval Gross Amount

$1,697,000

Loan Approval from the SBA

Of the total $1,697,000 loan amount, the SBA guaranteed $999,992.

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 60 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Stearns Bank and they will explain how you can get an SBA loan for your company.

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:

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Best Saint Cloud, Minnesota Banks for Small Business

Minnesota SBA 7A Lenders