Cit Small Business Lending Corp Provides SBA Loan to Buy Culver's Frozen Custard Franchise

Need a loan to purchase a Culver's Frozen Custard franchise? Cit Small Business Lending Corp 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 2005, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Ft Wayne, Indiana. Because Culver's Frozen Custard was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis.

SBA Loan Borrower

CULVER'S FROZEN CUSTARD
FT WAYNE, IN 46825

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This SBA small business loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA provides 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

1/26/2005

Loan Approval Gross Amount

$322,000

Loan Approval from the SBA

Of the total $322,000 loan amount, the SBA guaranteed $241,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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

Small Business Credit Cards

SBA Participating Banks in Livingston, New Jersey

Getting an SBA Loan in New Jersey