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

Need money 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 Troy, Ohio 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 Ohio small business loan.

SBA Loan Borrower

CULVER'S FROZEN CUSTARD
TROY, OH 45373

SBA Loan Lender

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

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

8/14/2003

Loan Approval Gross Amount

$1,484,000

Loan Approval from the SBA

Of the total $1,484,000 loan amount, the SBA guaranteed $999,993.

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 20 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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