Fishers, IN Entrepreneur Gets SBA Loan to Buy Culver's Frozen Custard Franchise

Need 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.

Want to borrow money to buy a Culver's Frozen Custard franchise? If so, here's a 2004 SBA franchise loan that you should know about. Stearns Bank was the lender and the entrepreneur was based in Fishers, Indiana.

SBA Loan Borrower

CULVERS
FISHERS, IN 46236

SBA Loan Lender

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

At the time this loan was granted, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program was created to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

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

9/30/2004

Loan Approval Gross Amount

$1,983,000

Loan Approval from the SBA

Of the total $1,983,000 loan amount, the SBA guaranteed $1,487,250.

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 10 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.

Next Steps for Getting an SBA Loan

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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