Main Street Registry

Culver’s of Eastwood

Lansing, MI · Limited-Service Restaurants · NAICS 722513

Culver's of Eastwood is a franchised business in Lansing, Michigan, in the limited-service restaurants industry (NAICS 722513). The company financed real estate or equipment through an SBA 504 loan with a $1,183,000 SBA portion, approved on November 14, 2024, through First National Bank of America and the Michigan Certified Development Corporation.

SBA 504 loan, approved Nov 14, 2024

$1,183,000 SBA portionCDC: Michigan Certified Development Corporation25 years termPaid in fullLoan details
SBA (CDC) portion
$1,183,000
Bank portion
$1,442,500
Estimated project size
$2,917,222 (estimated)
Estimated owner equity
$291,722 (estimated, about 10% of the project)
Bank lender
First National Bank of America, East Lansing, MI
CDC
Michigan Certified Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
November 14, 2049 (estimated, approval date plus term)
First disbursement
Feb 12, 2025
Loan status
Paid in full
Jobs supported
2
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Franchise
Culver's
Project location
Ingham County, MI
SBA district office
Michigan District Office
Congressional district
MI-8
Collateral
Yes

Estimated share of project by source

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

  • Larger than 31% of expansion loans in Limited-Service Restaurants on this site.
  • Average expansion loan in Limited-Service Restaurants: $1,507,672.
  • Average expansion loan in Michigan: $2,050,489.

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in Michigan