Borrow Money to Buy an Ace Hardware Franchise

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

If you live near Voorhees, New Jersey and are interested in buying an Ace Hardware franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by Banco Popular North America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

EAGLE ACE HARDWARE
VOORHEES, NJ 08043

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

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

8/11/2006

Loan Approval Gross Amount

$672,000

Loan Approval from the SBA

Of the total $672,000 loan amount, the SBA guaranteed $504,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Ace Hardware franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 13 new jobs and retain 13 existing jobs.

Next Steps for Getting an SBA Loan

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Banco Popular North America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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

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Where to Get an SBA Loan New York