Borrow Money to Buy a True Value Hardware Franchise

Need a loan to invest in a True Value Hardware franchise? Cit Small Business Lending Corp 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 2006 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Buckeye, Arizona.

SBA Loan Borrower

MELT'S HARDWARE
BUCKEYE, AZ 85326

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

2/24/2006

Loan Approval Gross Amount

$1,405,000

Loan Approval from the SBA

Of the total $1,405,000 loan amount, the SBA guaranteed $1,053,750.

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 12 employees. The loan application indicated that the loan would help create 12 new jobs.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $1,405,000. How would you spend $1,405,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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