North Dakota Entrepreneur Secures Financing to Buy Ace Hardware Franchise

Need a loan to purchase an Ace Hardware franchise? State Bank Of Bottineau has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bottineau, North Dakota needed money to invest in an Ace Hardware franchise back in 2001. State Bank Of Bottineau issued an SBA franchise loan. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

BOTTINEAU ACE HARDWARE
BOTTINEAU, ND 58318

SBA Loan Lender

STATE BANK OF BOTTINEAU
514 THOMPSON
BOTTINEAU, ND 58318

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

5/7/2001

Loan Approval Gross Amount

$232,200

Loan Approval from the SBA

Of the total $232,200 loan amount, the SBA guaranteed $174,150.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Ace Hardware franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from State Bank Of Bottineau so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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

Business Cash Advances

Small Business Banks in Bottineau, North Dakota

SBA Lenders in North Dakota