Florida Entrepreneur Secures Financing to Buy Ace Hardware Franchise

Borrowing money to buy an Ace Hardware franchise? Wachovia Sba Lending, Inc. has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Ace Hardware franchise may simply require a phone call to a local SBA banker. In 2006, Wachovia Sba Lending, Inc. issued an SBA franchise loan to an entrepreneur in Ocala, Florida. Because Ace Hardware was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

EVANS-ALLEN HARDWARE INC
OCALA, FL 34472

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

12/26/2006

Loan Approval Gross Amount

$561,700

Loan Approval from the SBA

Of the total $561,700 loan amount, the SBA guaranteed $421,275.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Ace Hardware franchise. At the time of the loan, the company had 18 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 16 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $561,700. How would you spend $561,700 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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

Determining Proper Capital Structure for a Business

Find an SBA Lender in Roseville, California

Getting an SBA Loan in California