Financing for Hardware Stores

Looking for commercial loans for hardware stores? The SBA may be the answer. This $100,000 hardware stores loan was issued by a Minnesota bank.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Union State Bank, out of Browns Valley, Minnesota. The loan was granted and they received $100,000 to help grow their Browns Valley, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
BROWNS VALLEY, MN 56219

SBA Loan Lender

UNION STATE BANK
325 W BROADWAY
BROWNS VALLEY, MN 56219

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

9/12/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Union State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

504 Loans

Banks in Browns Valley, Minnesota

SBA Minnesota Banks