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April 25, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Montrose Water Factory, LLC Loan | ||||
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Bank Of The West Small Business Franchise Loan
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Borrow Money to Buy a Culligan Soft Water Service FranchiseNeed money to invest in a Culligan Soft Water Service franchise? Bank Of The West has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Culligan Soft Water Service franchise may simply require a phone call to a local SBA banker. In 2004, Bank Of The West issued an SBA franchise loan to an entrepreneur in Montrose, Colorado. Because Culligan Soft Water Service was registered with the SBA's registry of franchises, this Colorado small business loan was issued on an expedited basis. SBA Loan Borrower MONTROSE WATER FACTORY, LLC SBA Loan Lender BANK OF THE WEST This lender provides SBA guaranteed 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 541990 - Professional, Scientific, and Technical Services Loan Approval Date 5/17/2004 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Raising VC Money for Social Networking Companies Small Business Banks in Salt Lake City, Utah
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