How to Get a Loan for Hardware Stores

With these SBA loans for hardware stores, the SBA guarantees the lender that the loan will be repaid. This hardware stores loan for $400,000 was given to a North Carolina entrepreneur in 2000.

This small business knew how to go about getting a business bank loan. Based in Beulaville, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Rbc Centura Bank, based in Raleigh, North Carolina.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
BEULAVILLE, NC 28518

SBA Loan Lender

RBC CENTURA BANK
4300 GLENWOOD AVE
RALEIGH, NC 27612

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

8/30/2000

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Borrowing Money from Friends and Family

SBA Approved Banks in Raleigh, North Carolina

Getting an SBA Loan in North Carolina