Loan to Buy Hardware Hank Franchise Issued By 1st National Bank - Milaca

Need a loan to purchase a Hardware Hank franchise? 1st National Bank - Milaca has a history of making these loans and they are guaranteed by the SBA.

Hardware Hank franchise loans are available to Isle, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, 1st National Bank - Milaca, based in Isle, Minnesota, issued an SBA franchise loan for a Hardware Hank franchise in 2001. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

ISLE HARDWARE HANK
ISLE, MN 56342

SBA Loan Lender

1ST NATIONAL BANK - MILACA
MAIN ST & 3RD
ISLE, MN 56342

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

4/6/2001

Loan Approval Gross Amount

$100,364

Loan Approval from the SBA

Of the total $100,364 loan amount, the SBA guaranteed $85,309.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Hardware Hank franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 $100,364 loan. Remember, things become real when you believe you can achieve them!

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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