Ohio Entrepreneur Secures Financing to Buy Ace Hardware Franchise

Need money to buy an Ace Hardware franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Wauseon, Ohio and are interested in buying an Ace Hardware franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by National City Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

RUPP UNLIMITED CORPORATION
Wauseon, OH 43567

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

3/9/2005

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $150,000.

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 11 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 11 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

This SBA loan was for $300,000. How would you spend $300,000 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:

ACE Hardware

Role of Business Plan When Raising Money

SBA Participating Banks in Cleveland, Ohio

Getting an SBA Loan in Ohio