Springfield, MO Entrepreneur Gets SBA Loan to Buy Culver's Frozen Custard Franchise

Borrowing money to invest in a Culver's Frozen Custard franchise? M&i Marshall & Ilsley Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Culver's Frozen Custard franchise requires some effort but others before you have been successful. In 2000, M&i Marshall & Ilsley Bank issued an SBA franchise loan to an entrepreneur in Springfield, Missouri. Because Culver's Frozen Custard was registered with the SBA's registry of franchises, this Missouri small business loan was issued on an expedited basis.

SBA Loan Borrower

CULVER'S FROZEN CUSTARD RESTAU
SPRINGFIELD, MO 65804

SBA Loan Lender

M&I MARSHALL & ILSLEY BANK
6625 LYNDALE AVE SOUTH
RICHFIELD, MN 55402

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

3/14/2000

Loan Approval Gross Amount

$1,222,600

Loan Approval from the SBA

Of the total $1,222,600 loan amount, the SBA guaranteed $749,992.

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 65 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like M&i Marshall & Ilsley 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.

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