Where to Get Capital for Hardware Stores

Looking for small business loans for hardware stores? Talk to a banker who works with the SBA. This $582,000 hardware stores loan was issued by an Ohio bank.

Getting a small business loan in Fostoria, Ohio was important for this growing firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First Fed. Bank - Midwest, operating out of Defiance, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
FOSTORIA, OH 44830

SBA Loan Lender

FIRST FED. BANK - MIDWEST
601 CLINTON ST
DEFIANCE, OH 43512

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

1/26/2000

Loan Approval Gross Amount

$582,000

Loan Approval from the SBA

Of the total $582,000 loan amount, the SBA guaranteed $436,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Accountant's Role in Securing Financing

Banks in Defiance, Ohio

SBA Ohio Banks