SBA 7(a)/504 FOIA · FY1991–PRESENT · MINNESOTA
Hardware Hank franchise in Minnesota: what the public record shows
Franchisees of Hardware Hank in Minnesota have taken 44 SBA loans since 1991 (average $207,454), and of the 30 loans whose story has ended, 6.7% were charged off — versus 5.4% for Hardware Hank nationally and 14.8% across all rateable franchise brands.
Loans in MN
44
Resolved
30
Local charge-off
6.7%
National charge-off
5.4%
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = MN. Charge-off rate = charged-off ÷ (charged-off + paid-in-full); open loans excluded. A local rate is published only when the resolved cohort clears our floor.
Businesses in this industry
2,985
statewide, all operators
Per 100k residents
51.5
national 39.6
Versus the country
+30%
denser
Every business in Hardware Hank's industry operating in Minnesota — franchised and independent — from the Census Bureau's County Business Patterns (2023), against 2024 population estimates. Counter-intuitively, density is not a warning: across 198 brand-state cells in our loan data, the densest quartile charges off at 5.6% versus 18.1% in the thinnest. A crowded market is usually proven demand; an empty one is often empty for a reason.
| System | Loans in MN | Local charge-off | Units in MN |
|---|---|---|---|
| Ace Hardware | 43 | 3.2% | — |
| True Value Hardware | 17 | 23.1% | — |
| Coast-to-Coast Store | 16 | 7.7% | — |
| Do It Best Hardware | 10 | thin | — |
| Snap-On Tools | 6 | thin | — |
| Mr. Electric | 5 | thin | — |
| PAUL DAVIS RESTORATION INC FRANCHISE AGREEMENT | 5 | thin | — |
Same sector, same state, same public records — how Hardware Hank compares to the systems a buyer in Minnesota would actually be choosing between. Local rates under 10 resolved loans are marked thin, not hidden.
A broker is paid by the franchisor to place you. An independent CPA is paid by you — and the job is pressure-testing Hardware Hank's numbers, including talking you out of a bad deal.
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