Ace Hardware of Silver Lake opened its doors in July thanks to SBA’s 7(a) loan program. Gary Skrla was laid off from his corporate job and headed to the SBA office in Seattle to discuss his business ideas with Ed Milan, a SCORE representative. After a few counseling sessions, he decided to follow his dream and open a hardware store. His past hardware industry experience helped him decide the ACE Hardware franchise would be a good fit.
He found the perfect location in Everett – a new strip mall in the Silver Lake neighborhood and worked out the tenant improvements details. Timing is everything. Skrla took advantage of the new lending incentives of increased guarantees and reduced fees. He worked out the details in his loan application and received financing through Seattle-based Fortune Bank and the SBA 7(a) Loan Program. Lisa Forrest, vice president with Fortune Bank said, “Gary is a perfect example of what can be done with an SBA loan. He has an incredible range of... Read More