Borrow Money to Buy a Culver's Frozen Custard Franchise

Need money to buy a Culver's Frozen Custard franchise? Nexbank, Ssb has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Culver's Frozen Custard franchise shouldn't be overly burdensome. In 2005, Nexbank, Ssb issued an SBA franchise loan to an entrepreneur in Corinth, Texas. Because Culver's Frozen Custard was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

CULVER'S OF FLOWER MOUND
CORINTH, TX 76210

SBA Loan Lender

NEXBANK, SSB
13455 NOEL RD, STE 2220
DALLAS, TX 75240

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/30/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Corinth TX, you ought to talk with a local Corinth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Corinth businesses.

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.

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