Santa Rosa, CA Entrepreneur Gets SBA Loan to Buy Ace Hardware Franchise

Borrowing money to buy an Ace Hardware franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Santa Rosa, California needed money to invest in an Ace Hardware franchise back in 2005. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

BENNETT VALLEY ACE HARDWARE
SANTA ROSA, CA 95405

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

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

7/18/2005

Loan Approval Gross Amount

$281,000

Loan Approval from the SBA

Of the total $281,000 loan amount, the SBA guaranteed $210,750.

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 6 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Santa Rosa CA, you ought to talk with a local Santa Rosa SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Santa Rosa businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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