Hardware Stores Commercial Loans

With these commercial loans for hardware stores, the SBA guarantees the lender that the loan will be repaid. This hardware stores loan for $700,000 was given to a North Carolina entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Murfreesboro, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Ncb, Fsb, based in Hillsboro, Ohio.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
MURFREESBORO, NC 27855

SBA Loan Lender

NCB, FSB
139 S HIGH ST
HILLSBORO, OH 45133

This small business 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.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

4/18/2002

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 9 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Ncb, Fsb that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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