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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Jackson, Business Loans > American River Bank Jackson Business Loans > Pine Grove Hardware Loan | ||||
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Advice for Borrowing Money to Buy a Franchise
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California Entrepreneur Secures Financing to Buy Ace Hardware FranchiseNeed a loan to buy an Ace Hardware franchise? American River Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy an Ace Hardware franchise requires some effort but others before you have been successful. In 2004, American River Bank issued an SBA franchise loan to an entrepreneur in Pine Grove, California. Because Ace Hardware was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis. SBA Loan Borrower PINE GROVE HARDWARE SBA Loan Lender AMERICAN RIVER BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 444130 - Hardware Stores Loan Approval Date 12/22/2004 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 an Ace Hardware franchise. At the time of the loan, the company had 30 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Best Banks in Jackson, California Getting a Business Loan in California
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