Illinois Entrepreneur Secures Financing to Buy Ace Hardware Franchise

Borrowing money to invest in an Ace Hardware franchise? Ncb, Fsb 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 2007 SBA franchise loan that you should know about. Ncb, Fsb was the lender and the entrepreneur was based in Roselle, Illinois.

SBA Loan Borrower

ACE HARDWARE
ROSELLE, IL 60177

SBA Loan Lender

NCB, FSB
139 S HIGH ST
HILLSBORO, OH 45133

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

7/11/2007

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 18 existing jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

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:

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