Business Loans for Hardware Stores

Looking for business loans for hardware stores? An SBA loan may be just what you've been looking for. This $250,000 hardware stores loan was issued by a Tennessee bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Legends Bank, out of Clarksville, Tennessee. The loan was granted and they received $250,000 to help grow their Nashville, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
NASHVILLE, TN 37203

SBA Loan Lender

LEGENDS BANK
310 N FIRST ST
CLARKSVILLE, TN 37040

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

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

6/17/2004

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Legends Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Legends Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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