Where to Get Capital for Hardware Stores
With these small business loans for hardware stores, the SBA guarantees the lender that the loan will be repaid. This hardware stores loan for $100,000 was given to a Massachusetts entrepreneur in 2004.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Weymouth (town Of), Massachusetts was able to borrow $100,000 from South Shore Savings Bank. The SBA made the loan possible by guaranteeing $50,000 of this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: HARDWARE STORES
WEYMOUTH (TOWN OF), MA 02191
SBA Loan Lender
SOUTH SHORE SAVINGS BANK
1530 MAIN ST
SOUTH WEYMOUTH, MA 02190
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
10/4/2004
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 6 employees. The SBA loan documents indicated that the loan would help retain 6 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.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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:
Realistic Debt Financing Options
SBA 7A Banks for South Weymouth, Massachusetts Loans
Where to Get an SBA Loan Massachusetts