Wells Fargo Bank Provides SBA Loan to Buy Ace Hardware Franchise

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

An entrepreneur in Albuquerque, New Mexico needed money to invest in an Ace Hardware franchise back in 2006. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

CLEMMENS ACE HARDWARE
Albuquerque, NM 87112

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

10/24/2006

Loan Approval Gross Amount

$558,300

Loan Approval from the SBA

Of the total $558,300 loan amount, the SBA guaranteed $418,725.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you need business start up money in Albuquerque NM, you ought to talk with a local Albuquerque SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Albuquerque businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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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