Michigan Entrepreneur Secures Financing to Buy Culver's Frozen Custard Franchise

Need a loan to invest in a Culver's Frozen Custard franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA.

Culver's Frozen Custard franchise loans are available to Grand Rapids, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Jpmorgan Chase Bank, based in Houston, Texas, issued an SBA franchise loan for a Culver's Frozen Custard franchise in 2002. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

CULVER'S FROZEN CUSTARD
GRAND RAPIDS, MI 49548

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/6/2002

Loan Approval Gross Amount

$308,000

Loan Approval from the SBA

Of the total $308,000 loan amount, the SBA guaranteed $231,000.

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 200 employees. The loan application indicated that the loan would help generate 75 new jobs and retain 125 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

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

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SBA Approved Banks in Houston, Texas

Texas SBA 7A Lenders