Valley National Bank Provides SBA Loan to Buy Ace Hardware Franchise

Need money to invest in an Ace Hardware franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Clementon, New Jersey needed money to invest in an Ace Hardware franchise back in 2006. Valley National Bank issued an SBA franchise loan. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

ACE HARDWARE
CLEMENTON, NJ 08021

SBA Loan Lender

VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

10/25/2006

Loan Approval Gross Amount

$318,000

Loan Approval from the SBA

Of the total $318,000 loan amount, the SBA guaranteed $238,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Ace Hardware franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 11 new jobs and retain 15 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $318,000 loan. Remember, feel the fear, and do it anyway.

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

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Banks in North Plainfield, New Jersey

Getting an SBA Loan in New Jersey