Pembroke Hardware

Curt Locklear, a World War II veteran and Lumbee Indian Tribe member, started Pembroke Hardware in 1956. He incorporated the business in 1973 with provisions for his nine children to inherit his interest in the company. He began by opening at two separate locations, with a retail office in downtown Pembroke and the building supply facility nearby.

We had three different financing options to consider but realized we needed to use the SBA 504 program to make the deal feasible on the interest rate side of things. The loan process was smooth. It just made the most business sense to use the 504 program.
--Lindsay Locklear, General Manager

But with the expansion of the University of North Carolina at Pembroke in 2005, Curt decided he wanted to consolidate his business into one location and increase space to handle the greater levels of inventory needed to supply the boost in business. So he partnered with Lumbee Guaranty Bank and Self-Help to take out an SBA 504 loan to finance construction of a new facility comprised of retail space, a warehouse and lumberyard.

With big-box hardware retailers like Lowe’s and Home Depot hesitant to move into rural Pembroke, Curt’s business is bringing high-quality home-improvement supplies that his community members would otherwise have to drive about 15 miles away to find.

Pembroke Hardware is a family business, with three sons holding key management positions: Lindsey manages the retail store and serves as general manager; Milton manages the building supplies division; and Stevie is assistant manager of the retail division.

The company is a member of the True Value Company, headquartered in Chicago. True Value is one of the world’s largest retailer-owned hardware cooperatives with approximately 5,800 independent retail locations worldwide.

For more information about Pembroke Hardware, visit www.truevalue.net.