Main Street Registry

Culver’s of Eastlake

Eastlake, OH · Limited-Service Restaurants · NAICS 722513

Culver's of Eastlake is a franchised business in Eastlake, Ohio, classified under limited-service restaurants. The company financed real estate or equipment through an SBA 504 loan with an SBA portion of $1.189 million, approved on September 7, 2025, with Old National Bank as the partner lender and the Michigan Certified Development Corporation as the certified development company.

SBA 504 loan, approved Sep 7, 2025

$1,189,000 SBA portionCDC: Michigan Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,189,000
Bank portion
$1,450,000
Estimated project size
$2,932,222 (estimated)
Estimated owner equity
$293,222 (estimated, about 10% of the project)
Bank lender
Old National Bank, Evansville, IN
CDC
Michigan Certified Development Corporation
Processing method
504 Refinancing: refinances existing business debt
Term
25 years (300 months)
Estimated maturity
September 7, 2050 (estimated, approval date plus term)
First disbursement
May 13, 2026
Loan status
Status not reported (SBA exemption)
Business type
LLC or partnership
NAICS
722513, Limited-Service Restaurants
Franchise
Culver's
Project location
Lake County, OH
SBA district office
Columbus District Office
Congressional district
OH-14
Collateral
Yes

Estimated share of project by source

Bank 49% SBA (CDC) 41% Owner 10%

  • Larger than 33% of expansion loans in Limited-Service Restaurants on this site.
  • Average expansion loan in Limited-Service Restaurants: $1,507,672.
  • Average expansion loan in Ohio: $2,096,556.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Ohio