Stearns Bank Provides SBA Loan to Buy Culver's Frozen Custard Franchise

Need a loan 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.

If you live near Pequot Lakes, Minnesota 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 2002 by Stearns Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

LIEDCOM PROPERTIES LLC & BEADL
PEQUOT LAKES, MN 56472

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/13/2002

Loan Approval Gross Amount

$1,618,000

Loan Approval from the SBA

Of the total $1,618,000 loan amount, the SBA guaranteed $999,924.

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 indicated that the loan would help generate 45 new jobs and retain 45 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Pequot Lakes or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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