Borrow Money to Buy an Ace Hardware Franchise

Borrowing money to invest in an Ace Hardware franchise? United Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Ace Hardware franchise may simply require a phone call to a local SBA banker. In 2001, United Bank issued an SBA franchise loan to an entrepreneur in Elkview, West Virginia. Because Ace Hardware was registered with the SBA's registry of franchises, this West Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

ELKVIEW ACE HARDWARE & BUILDIN
ELKVIEW, WV 25071

SBA Loan Lender

UNITED BANK
500 VIRGINIA ST EAST
CHARLESTON, WV 25301

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

4/26/2001

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 12 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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