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 in the FY1991–present FOIA files (average $207,454). Those approved through FY2020 defaulted at a rate not clearly different from franchise loans made in the same years nationally: 2 charge-offs among 30 resolved loans, where about 4.7 would be expected (0.4×). Hardware Hank's national ratio is 0.4×.
Loans in MN
44
Charged off (all years)
2 of 30
Loss ratio in MN (not clear)
0.4×
Loss ratio nationally
0.4×
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = MN. Loss ratio = charge-offs among loans approved through FY2020 ÷ the charge-offs expected if each had defaulted at the national rate for franchise loans approved the same year; 1.0× is the same. Only charged-off and paid-in-full loans count. A ratio is shown at 30+ such loans; “not clear” marks a ratio chance alone could produce. The all-years count mixes every era and is evidence, not a rate to compare. Borrowers are matched to the brand by name and SBA franchise code; some matches may be wrong or missing.
| System | Loans in MN | Charged off (all years) | Loss ratio in MN | Units in MN |
|---|---|---|---|---|
| Ace Hardware | 43 | 1 of 31 | — | — |
| True Value Hardware | 17 | 3 of 13 | — | — |
| Coast-to-Coast Store | 16 | 1 of 13 | — | — |
| Cartridge World | 15 | 3 of 13 | — | — |
| Once Upon a Child | 15 | 0 of 9 | — | — |
| Radioshack | 13 | 2 of 11 | — | — |
| Candleman | 12 | 6 of 10 | — | — |
| Grow Biz International | 12 | 2 of 10 | — | — |
| Sears Catalog Store | 12 | 4 of 10 | — | — |
| General Nutrition Center | 11 | 1 of 9 | — | — |
| Plato'S Closet | 11 | 0 of 8 | — | — |
| Do It Best Hardware | 10 | 3 of 7 | — | — |
Other systems in Hardware Hank's sector whose franchisees borrowed in Minnesota. A loss ratio appears only where at least 30 loans approved through FY2020 have resolved; “—” means too few.
A broker is usually paid by the franchisor to place you. I'm paid only by you, never by a franchisor you're considering — and the job is pressure-testing Hardware Hank’s numbers, including talking you out of a bad deal.