Getting an SBA Loan 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 $75,000 was given to an Oklahoma entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Enid, Oklahoma was able to borrow $75,000 from Bank Of America. The SBA made the loan possible by guaranteeing $37,500 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
ENID, OK 73703

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

10/4/2002

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Enid OK, you ought to talk with a local Enid SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Enid businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America 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.

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