Marion, KS Entrepreneur Gets SBA Loan to Buy Do It Best Hardware Franchise

Need money to invest in a Do It Best Hardware franchise? Pilsen State Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Marion, Kansas and are interested in buying a Do It Best Hardware franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by Pilsen State Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SEACAT HOME CENTER
MARION, KS 66861

SBA Loan Lender

PILSEN STATE BANK
220 W MAIN ST
LINCOLNVILLE, KS 66858

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the 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

3/3/2006

Loan Approval Gross Amount

$259,200

Loan Approval from the SBA

Of the total $259,200 loan amount, the SBA guaranteed $194,400.

More Information on This SBA Loan

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

Getting an SBA Loan For Your Business

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pilsen State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Do It Best Hardware

Understanding Dilution

SBA 7A Banks for Lincolnville, Kansas Loans

SBA Kansas Lenders