Commercial Loans for Vending Machine Operators
With these commercial loans for vending machine operators, the SBA guarantees the lender that the loan will be repaid. This vending machine operators loan for $60,000 was given to a California entrepreneur in 2007.
Getting a small business loan in Berkley, California was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Mission National Bank, operating out of San Francisco, California. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: VENDING MACHINE OPERATORS
BERKLEY, CA 94705
SBA Loan Lender
MISSION NATIONAL BANK
3060 16TH ST
SAN FRANCISCO, CA 94103
This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
454210 - Vending Machine Operators
Loan Approval Date
4/5/2007
Loan Approval Gross Amount
$60,000
Loan Approval from the SBA
Of the total $60,000 loan amount, the SBA guaranteed $51,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.
Start the Process for Getting an SBA Loan Today!
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Mission National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.
Related Links:
Business Credit Evaluation
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Where to Get an SBA Loan California