Osgood Bank was introduced to the Kona brand in early-2020. Since that time we have had numerous in-person meetings with the Kona Ice management team, and we have developed an exclusive lending program for Kona Franchisees only.
Our bank is located in a small community just 2 hours north of Cincinnati, and yet we have a national reach. For our franchise loan customers across 30+ states, we make regular customer visits to continuously learn about each other and optimize a plan for growth.
We hope you will give us the opportunity to work with you. To get things started, we want to offer you financing specials outlined below.
Image Credit: Greater Lansing Michigan Convention and Visitor's Bureau
Loan Type |
KEVs, BEVs, Refis, Upfits Franchisee to pay franchise fee and cost of initial inventory. |
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Amount Financed |
Up to 100% of purchase price of KEV or BEV |
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Pricing |
Credit Score |
750+ |
680-750 |
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Rate |
8.50% |
9.75% |
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Max Term |
6 years for KEV/BEV and related equipment 4 years for Upfits |
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Fees |
$250 documentation fee (can be financed) |
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Monthly Payment Exception |
6 months of contact payments during the first year 3 months of contact payments (during winter months) for each successive year |
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Prepayment Penalty |
2% of original balance if within first 2 years |
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Additional Information |
Loan Terms for Commercial Real Estate will be handled on a case-by-base basis. All borrowers are required to set up automatic ACH payments for loan repayment. |
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Rates effective Dec 23, 2024. Subject to change without notice.
Osgood Bank is headquartered in Western Ohio. We are both a traditional community bank and a national franchise lender. On the franchise side of the house, we typically work with small groups of franchisors, such as Kona Ice, to establish niche financing programs for franchisees like yourself.
Each bank has their own lending approach. Large banks can be inflexible and their decision makers hard to access. Small banks provide better service, but focus on loans with real estate as collateral. Finally, there are hybrid banks that heavily promote SBA structures. While SBA structures can be attractive, they come with floating rates, typically have higher closing costs, and dealing with a government-sponsored program comes with its own set of headaches.
Osgood Bank is a niche bank that is very focused on franchise lending to only select brands. This allows us to spend more time with the brand as opposed to lending to many franchisors and never really getting to know any single franchise. By taking this targeted approach, we can offer more traditional loan structures rather than promote SBA products. Second, in the rare event that a franchisee struggles and needs to restructure a loan, we already understand their operation. This allows us to be more flexible and a better partner to you.
Our franchise team is comprised of roughly 15 people (lenders, credit, processing, and executive staff) who are dedicated to your success. Considering that the entire bank has 4 branches and 60 team members, our structure is flat enough that you will be talking with the decision makers. Our lending system leverages technology and an experienced staff currently serving customers in 31 states.
