Loan to Buy Culver's Frozen Custard Franchise Issued By Stearns Bank

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

An entrepreneur in Indianapolis, Indiana needed money to invest in a Culver's Frozen Custard franchise back in 2003. Stearns Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan.

SBA Loan Borrower

CULVER'S FROZEN CUSTARD&BUTTER
INDIANAPOLIS, IN 46221

SBA Loan Lender

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

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

722110 - Full-Service Restaurants

Loan Approval Date

12/11/2003

Loan Approval Gross Amount

$483,700

Loan Approval from the SBA

Of the total $483,700 loan amount, the SBA guaranteed $362,775.

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 61 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Remember, you 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Stearns Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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SBA Approved Banks in Saint Cloud, Minnesota

SBA Lenders in Minnesota