The Company
Ace Hardware franchise located at 12350-B Arnold Mill Road, Alpharetta, Georgia (suburb of Atlanta) 770-203-1770 - Website. This location offers the following services: Gift Shop, Lawn and Garden, Paint And Sundries, Nursery Housewares, Plumbing, Patio/Outdoor, Living Automotive, Cleaning Supplies, Electrical Hardware, and Hand & Power Tools.
Ace Hardware Crabapple brings a unique blend of nationally-recognized customer service and quality home maintenance expertise and products to Alpharetta, Milton and Roswell residents. The store has been designed to reflect the needs of the Crabapple community, including solutions to everyday home improvement needs, as well as an extensive array of high-quality products in categories such as paint, lawn and garden.
ACE Hardware
As your local Ace Hardware, ACE Hardware Crabapple is a member of the largest retailer-owned hardware cooperative in the industry. Ace Hardware began as a small chain of stores in 1924 and has grown to include more than 4,600 stores in 50 states and more than 70 countries. As part of a cooperative, every Ace Hardware store is independently owned. From neighborhood hardware stores to lumberyards to super-size home centers, each Ace Hardware (like ACE Hardware Crabapple – Hardware Store Alpharetta GA) is unique and tailored to meet the needs of its local community. We are all committed to being “the Helpful Place” by offering our customers knowledgeable, helpful service and quality products. As the helpful hardware folks in your community, we promise that, “helping you is the most important thing we have to do today.”
The Request
Mr. Velazquez approached Commercial Loan Direct to secure financing for his new business venture. The property was located at an existing retail center in a well trafficked area but with limited visibility. The financing request included the acquisition of the real estate, substantial renovations to bring subject property to Ace Hardware's standards, and a business line of credit (working capital).
"After 32 years in product development for GE Medical, Siemens Medical and Kimberly-Clark, I wanted to have a business that my wife and I could run together. At a local franchise show we looked at many opportunities and felt that Ace Hardware had the values and helpfulness that resonated with us. Ace also offered various incentives and training to get new investors started successfully."
The Challenge
Herb had no prior experience in business ownership and limited resources to start the business. Mr. Velazquez approached multiple local banks that either rejected his transaction or proposed multiple loans with high interest rates and terms that would impact his cash-flow negatively.
The Solution
Mr. Velazquez had a strong analytical background and prepared a very accurate business plan with projections. CLD was able to underwrite the transaction to Herb's specifications and secured financing via the Small Business Administration (SBA) under their 7a program. This loan gave our Borrower enough proceeds to consolidate the loan into one with ample working capital to meet his financial obligations.
Grand Opening. Co-owners Ms. & Mr. Velazquez with city officials including Mayor Wood.
"I had talked with other Ace Hardware owners that had one loan for both building and store. The resources that Ace had mentioned along with local banks were not able to offer one combined loan. I googled this topic and found CLD."
The Result
Herb was able to open his new business with loan terms that exceeded his expectations.