Iowa Entrepreneur Secures Financing to Buy True Value Hardware Franchise

Borrowing money to purchase a True Value Hardware franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Dubuque, Iowa needed money to invest in a True Value Hardware franchise back in 2006. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this Iowa small business loan.

SBA Loan Borrower

KEY WEST COMM'L & KEY WEST TRU
DUBUQUE, IA 52003

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

2/9/2006

Loan Approval Gross Amount

$1,117,000

Loan Approval from the SBA

Of the total $1,117,000 loan amount, the SBA guaranteed $837,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a True Value Hardware franchise. At the time of the loan, the company had 14 employees. This SBA loan request indicated that the borrowed money would help generate 14 new jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,117,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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