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

Borrowing money to purchase a Culver's Frozen Custard franchise? Wisconsin Community Bank has a history of making these loans and they are guaranteed by the SBA.

Culver's Frozen Custard franchise loans are available to Olathe, Kansas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wisconsin Community Bank, based in Sheboygan, Wisconsin, issued an SBA franchise loan for a Culver's Frozen Custard franchise in 2002. We've got all the details on this Kansas small business loan.

SBA Loan Borrower

CULVERS OF OVERLAND PARK
OLATHE, KS 66062

SBA Loan Lender

WISCONSIN COMMUNITY BANK
4706 S TAYLOR DR
SHEBOYGAN, WI 53081

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

6/5/2002

Loan Approval Gross Amount

$1,025,000

Loan Approval from the SBA

Of the total $1,025,000 loan amount, the SBA guaranteed $768,750.

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 62 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wisconsin Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Business Line of Credit

SBA Approved Banks in Sheboygan, Wisconsin

Wisconsin SBA Banks