Minnesota Entrepreneur Secures Financing to Buy Hardware Hank Franchise

Need a loan to invest in a Hardware Hank franchise? Bank Of The West has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Hardware Hank franchise? If so, here's a 2002 SBA franchise loan that you should know about. Bank Of The West was the lender and the entrepreneur was based in Ashby, Minnesota.

SBA Loan Borrower

ASHBY HARDWARE HANK
ASHBY, MN 56309

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

8/9/2002

Loan Approval Gross Amount

$169,100

Loan Approval from the SBA

Of the total $169,100 loan amount, the SBA guaranteed $126,825.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Hardware Hank franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of The West are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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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