SBA 7(a)/504 FOIA · FY1991–PRESENT · MICHIGAN
True Value Hardware franchise in Michigan: what the public record shows
Franchisees of True Value Hardware in Michigan have taken 12 SBA loans since 1991 (average $304,950), and of the 10 loans whose story has ended, 0.0% were charged off — versus 14.7% for True Value Hardware nationally and 14.8% across all rateable franchise brands.
Loans in MI
12
Resolved
10
Local charge-off
0.0%
National charge-off
14.7%
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = MI. 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
3,956
statewide, all operators
Per 100k residents
39
national 39.6
Versus the country
-2%
thinner
Every business in True Value Hardware's industry operating in Michigan — 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 MI | Local charge-off | Units in MI |
|---|---|---|---|
| Ace Hardware | 77 | 13.6% | — |
| PAUL DAVIS RESTORATION INC FRANCHISE AGREEMENT | 12 | thin | — |
| Snap-On Tools | 11 | thin | — |
| Do It Best Hardware | 6 | thin | — |
| MIGHTY DOG ROOFING | 6 | thin | — |
| EverLine Coatings and Services | 5 | thin | — |
| Mr. Electric | 5 | thin | — |
Same sector, same state, same public records — how True Value Hardware compares to the systems a buyer in Michigan 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 True Value Hardware's numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →