Keybank National Association Provides SBA Loan to Buy Ace Hardware Franchise

Borrowing money to buy an Ace Hardware franchise? Keybank National Association has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Ace Hardware franchise? If so, here's a 2000 SBA franchise loan that you should know about. Keybank National Association was the lender and the entrepreneur was based in Denver, Colorado.

SBA Loan Borrower

NINE AVENUE HARDWARE COMPANY
DENVER, CO 80218

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
100 BROADWAY
DENVER, CO 80203

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

10/6/2000

Loan Approval Gross Amount

$337,500

Loan Approval from the SBA

Of the total $337,500 loan amount, the SBA guaranteed $253,125.

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 34 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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 Line of Credit

Find an SBA Lender in Denver, Colorado

Colorado SBA Banks