Business Loans for Vending Machine Operators

Looking for business loans for vending machine operators? Talk to a banker who works with the SBA. This $75,000 vending machine operators loan was issued by an Iowa bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Iowa City, Iowa was able to borrow $75,000 from Hills Bank And Trust Company. The SBA made the loan possible by guaranteeing $63,750 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
IOWA CITY, IA 52246

SBA Loan Lender

HILLS BANK AND TRUST COMPANY
131 MAIN
HILLS, IA 52235

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

4/7/2004

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 4 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Hills Bank And Trust Company so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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

Good Banks for Small Business in Hills, Iowa

SBA Participating Banks in Iowa