Vending Machine Operators Small Business Loans

With these small business loans for vending machine operators, the SBA guarantees the lender that the loan will be repaid. This vending machine operators loan for $200,000 was given to a New Hampshire entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hudson, New Hampshire was able to borrow $200,000 from Ocean Bank. The SBA made the loan possible by guaranteeing $150,000 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
HUDSON, NH 03051

SBA Loan Lender

OCEAN BANK
325 STATE ST
PORTSMOUTH, NH 03801

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

1/23/2002

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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