Speller's Hardware Benefits from Lincoln Savings Bank PPP Loan

Father and son entrepreneurs Wendell and Allen Speller opened Speller’s True Value Hardware in Waterloo, Iowa four years ago. As the only hardware store in the city’s north end business corridor, the store quickly established itself as a staple in the neighborhood. Customers appreciate the Spellers’ location and exceptional customer service that support the community’s hardware needs in a timely fashion.



The Spellers turned to their lender at Lincoln Savings Bank to secure an SBA-backed Paycheck Protection Program (PPP) loan to cover their payroll and utility expenses during the COVID-19 economic downturn. Thanks to the funding the family-owned business remains open and is now a key supplier of hand sanitizer, face masks and cleaning supplies in the Waterloo community.  The notoriety raises its profile in Waterloo and positions it for further growth as the business community recovers.