Hardware Hank, Ortonville, Minnesota
Bob and Sue Kulbeik wanted to open a hardware store in their town of Ortonville, Minnesota but lacked the capital. They sought funding from the Upper Minnesota Valley Regional Development Commission and other lenders to get the business going. They received a $66,000 Revolving Loan Fund (RLF) and were able to open Hardware Hank, which provides products for painting, plumbing, electrical, and basic hardware. The business created 5 jobs in the community.
“Without the assistance of the Revolving Loan Fund we would not have been able to put together the deal that got our hardware store in Ortonville up and running,” said the Kulbeiks, owners of Hardware Hank. “They [the Upper Minnesota Valley Regional Development Commission] were so easy to work with and clearly understand the needs of our small business."
Tags: Small Business Development/RLF