Borrow Money to Buy a Culligan Soft Water Service Franchise

Borrowing money to buy a Culligan Soft Water Service franchise? Heritage Bank has a history of making these loans and they are guaranteed by the SBA.

Culligan Soft Water Service franchise loans are available to Willmar, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Heritage Bank, based in Spicer, Minnesota, issued an SBA franchise loan for a Culligan Soft Water Service franchise in 2004. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

CULLIGAN WATER CONDITIONING OF
WILLMAR, MN 56201

SBA Loan Lender

HERITAGE BANK
110 SOUTH ST WEST
SPICER, MN 56288

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

10/12/2004

Loan Approval Gross Amount

$770,200

Loan Approval from the SBA

Of the total $770,200 loan amount, the SBA guaranteed $577,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Culligan Soft Water Service franchise. At the time of the loan, the company had 19 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 23 existing jobs.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Heritage Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

Related Links:

Culligan International

Family and Friend Investors - Your First Financiers

Find an SBA Lender in Spicer, Minnesota

Minnesota SBA Bank Lenders