Main Street Registry

Culver's of Manistee

Manistee, MI · Limited-Service Restaurants · NAICS 722513

Culver's of Manistee is a limited-service restaurant located in Manistee, Michigan, in the NAICS category for limited-service restaurants. The business financed real estate or equipment through an SBA 504 loan of $1,679,000, with a total project amount of $1,939,533, approved on October 11, 2023 through Isabella Bank and the Michigan Certified Development Corporation.

SBA 504 loan, approved Oct 11, 2023

$1,679,000 SBA portionCDC: Michigan Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$1,679,000
Bank portion
$1,939,533
Estimated project size
$4,020,592 (estimated)
Estimated owner equity
$402,059 (estimated, about 10% of the project)
Bank lender
Isabella Bank, Mount Pleasant, MI
CDC
Michigan Certified Development Corporation
Processing method
Accredited Lenders Program: CDC with an expedited SBA review
Term
25 years (300 months)
Estimated maturity
October 11, 2048 (estimated, approval date plus term)
First disbursement
Oct 16, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
25
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Franchise
Culver's
Project location
Manistee County, MI
SBA district office
Michigan District Office
Congressional district
MI-1
Collateral
Yes

Estimated share of project by source

Bank 48% SBA (CDC) 42% Owner 10%

  • Larger than 72% 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.

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Same industry in Michigan