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

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

Getting money to buy a Culver's Frozen Custard franchise is doable. In 2002, First Choice Bank issued an SBA franchise loan to an entrepreneur in Bloomington, Illinois. Because Culver's Frozen Custard was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

CULVER'S
BLOOMINGTON, IL 61701

SBA Loan Lender

FIRST CHOICE BANK
1900 W STATE ST
GENEVA, IL 60134

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank 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

722211 - Limited-Service Restaurants

Loan Approval Date

8/1/2002

Loan Approval Gross Amount

$144,828

Loan Approval from the SBA

Of the total $144,828 loan amount, the SBA guaranteed $123,104.

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 22 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Choice Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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