Reno, NV Entrepreneur Gets SBA Loan to Buy Ace Hardware Franchise

Need money to invest in an Ace Hardware franchise? Natl Consumer Cooperative has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Ace Hardware franchise shouldn't be too tough. In 2004, Natl Consumer Cooperative issued an SBA franchise loan to an entrepreneur in Reno, Nevada. Because Ace Hardware was registered with the SBA's registry of franchises, this Nevada small business loan was issued on an expedited basis.

SBA Loan Borrower

SOUTH RENO ACE HARDWARE
RENO, NV 89521

SBA Loan Lender

NATL CONSUMER COOPERATIVE
601 PENNSYLVANIA AVE, NW, STE
WASHINGTON, DC 20044

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

2/10/2004

Loan Approval Gross Amount

$555,000

Loan Approval from the SBA

Of the total $555,000 loan amount, the SBA guaranteed $416,250.

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

Getting an SBA Loan For Your Business

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

We can help you find the best banks for small businesses in Reno or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

ACE Hardware

Bank Credit Lines

Banks in Washington, District of Columbia

SBA District of Columbia Banks