Borrow Money to Buy an Ace Hardware Franchise

Borrowing money to purchase an Ace Hardware franchise? United Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Elkview, West Virginia and are interested in buying an Ace Hardware franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by United Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ELKVIEW ACE HARDWARE & BUILDIN
ELKVIEW, WV 25071

SBA Loan Lender

UNITED BANK
500 VIRGINIA ST EAST
CHARLESTON, WV 25301

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 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

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

4/26/2001

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

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 12 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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

Obtaining Funding - Getting Venture Capital

Find an SBA Lender in Charleston, West Virginia

West Virginia SBA 7A Lenders