National Penn Bank Provides SBA Loan to Buy Ace Hardware Franchise
Need a loan to purchase an Ace Hardware franchise? National Penn Bank has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy an Ace Hardware franchise? If so, here's a 2002 SBA franchise loan that you should know about. National Penn Bank was the lender and the entrepreneur was based in Northampton, Pennsylvania.
SBA Loan Borrower
MILLER SUPPLY
NORTHAMPTON, PA 18067
SBA Loan Lender
NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
444130 - Hardware Stores
Loan Approval Date
5/28/2002
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $75,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy an Ace Hardware franchise. At the time of the loan, the company
had 23 employees. The SBA loan application for the borrower indicated that the loan would help retain 23 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
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.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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:
ACE Hardware
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Who Lends Money to Small Businesses in Boyertown, Pennsylvania
Find an SBA Lender in Pennsylvania