Where to Get Capital for Hardware Stores

Looking for small business loans for hardware stores? The SBA may be the answer. This $550,000 hardware stores loan was issued by a Minnesota bank.

This company knew how to go about getting a business bank loan. Based in Villard, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Hometown Community Bank, based in Cyrus, Minnesota.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
VILLARD, MN 56385

SBA Loan Lender

HOMETOWN COMMUNITY BANK
100 E MAIN ST
CYRUS, MN 56323

This lender issued this SBA bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

6/13/2001

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Villard MN, you ought to talk with a local Villard SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Villard businesses.

This SBA loan was for $550,000. How would you spend $550,000 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:

Strategic Investors

SBA 7A Banks in Cyrus, Minnesota

Getting an SBA Loan in Minnesota