Natl Consumer Cooperative Provides SBA Loan to Buy Do It Best Hardware Franchise

Need money to purchase a Do It Best Hardware franchise? Natl Consumer Cooperative has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Do It Best Hardware franchise? If so, here's a 2004 SBA franchise loan that you should know about. Natl Consumer Cooperative was the lender and the entrepreneur was based in Carlyle, Illinois.

SBA Loan Borrower

DO IT BEST
CARLYLE, IL 62231

SBA Loan Lender

NATL CONSUMER COOPERATIVE
601 PENNSYLVANIA AVE, NW, STE
WASHINGTON, DC 20044

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5072 - Hardware

NAICS Code

444130 - Hardware Stores

Loan Approval Date

11/2/2004

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Do It Best Hardware franchise. At the time of the loan, the company had 16 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Natl Consumer Cooperative that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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