Minnesota Entrepreneur Secures Financing to Buy True Value Hardware Franchise

Need a loan to invest in a True Value Hardware franchise? First State Bank Southwest has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Lakefield, Minnesota needed money to invest in a True Value Hardware franchise back in 2002. First State Bank Southwest issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

TRUE VALUE (UNITED SUPPLY)
LAKEFIELD, MN 56150

SBA Loan Lender

FIRST STATE BANK SOUTHWEST
1433 OXFORD ST
WORTHINGTON, MN 56187

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

9/24/2002

Loan Approval Gross Amount

$63,000

Loan Approval from the SBA

Of the total $63,000 loan amount, the SBA guaranteed $53,550.

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 4 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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