SBA 7(a)/504 FOIA · FY1991–PRESENT · MINNESOTA
Ace Hardware franchise in Minnesota: what the public record shows
Franchisees of Ace Hardware in Minnesota have taken 43 SBA loans since 1991 (average $501,827), and of the 31 loans whose story has ended, 3.2% were charged off — versus 12.2% for Ace Hardware nationally and 14.8% across all rateable franchise brands.
Loans in MN
43
Resolved
31
Local charge-off
3.2%
National charge-off
12.2%
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 Ace Hardware'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 |
|---|---|---|---|
| Hardware Hank | 44 | 6.7% | — |
| 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 Ace Hardware 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 Ace Hardware's numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →