Small Business Loans for Vending Machine Operators
Looking for small business loans for vending machine operators? Try the SBA. This $199,000 vending machine operators loan was issued by a Texas bank.
This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Comerica Bank, out of Dallas, Texas. The loan was granted and they received $199,000 to help grow their Chino Hills, California business.
SBA Loan Borrower
COMPANY TYPE: VENDING MACHINE OPERATORS
Chino Hills, CA 91709
SBA Loan Lender
COMERICA BANK
1717 MAIN
DALLAS, TX 75201
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
454210 - Vending Machine Operators
Loan Approval Date
12/19/2005
Loan Approval Gross Amount
$199,000
Loan Approval from the SBA
Of the total $199,000 loan amount, the SBA guaranteed $149,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had no employees. The SBA loan application for the borrower indicated that the funding would help create 1 new job.
Start the Process for Getting an SBA Loan Today!
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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.
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