Illinois Entrepreneur Secures Financing to Buy True Value Hardware Franchise

Borrowing money to purchase a True Value Hardware franchise? Blackhawk State Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a True Value Hardware franchise? If so, here's a 2000 SBA franchise loan that you should know about. Blackhawk State Bank was the lender and the entrepreneur was based in Belvidere, Illinois.

SBA Loan Borrower

BELVIDERE ACE HARDWARE
BELVIDERE, IL 61008

SBA Loan Lender

BLACKHAWK STATE BANK
121 E LOCUST ST
BELVIDERE, IL 61008

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

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

3/23/2000

Loan Approval Gross Amount

$507,770

Loan Approval from the SBA

Of the total $507,770 loan amount, the SBA guaranteed $380,828.

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 9 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? 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.

Related Links:

True Value Hardware

Equity Financing

SBA Participating Banks in Belvidere, Illinois

Illinois SBA Bank Lenders