Loan to Buy Culver's Frozen Custard Franchise Issued By Stearns Bank

Borrowing money to buy 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 Addison, Illinois 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 2003 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

CULVERS
ADDISON, IL 60137

SBA Loan Lender

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

This small business 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

722110 - Full-Service Restaurants

Loan Approval Date

5/28/2003

Loan Approval Gross Amount

$1,918,500

Loan Approval from the SBA

Of the total $1,918,500 loan amount, the SBA guaranteed $997,620.

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 application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Stearns Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Culver's

Understanding Dilution

SBA 7A Lenders in Saint Cloud, Minnesota

Getting an SBA Loan in Minnesota