How to Get a Loan for Vending Machine Operators

With these business loans for vending machine operators, the SBA guarantees the lender that the loan will be repaid. This vending machine operators loan for $250,000 was given to a New Hampshire entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Concord, New Hampshire was able to borrow $250,000 from Merrimack County Savings Bank. The SBA made the loan possible by guaranteeing $187,500 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMATIC MERCHANDISING MACHINE OPERATORS
CONCORD, NH 03301

SBA Loan Lender

MERRIMACK COUNTY SAVINGS BANK
503 SOUTH ST
BOW, NH 03304

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5962 - Automatic Merchandising Machine Operators

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

10/25/2000

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 8 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Merrimack County Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Merrimack County Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Equity Financing

SBA Banks in Bow, New Hampshire

SBA Lenders in New Hampshire