Raising Money for Hardware Stores

With these bank loans for hardware stores, the SBA guarantees the lender that the loan will be repaid. This hardware stores loan for $88,900 was given to a California entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ione, California was able to borrow $88,900 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $75,565 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
IONE, CA 95227

SBA Loan Lender

WELLS FARGO BANK
701 S HAM LN
LODI, CA 95242

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

9/20/2004

Loan Approval Gross Amount

$88,900

Loan Approval from the SBA

Of the total $88,900 loan amount, the SBA guaranteed $75,565.

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 7 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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