Commercial Loans for Vending Machine Operators

Looking for commercial loans for vending machine operators? Try the SBA. This $104,000 vending machine operators loan was issued by an Ohio bank.

This small business knew how to go about getting a business bank loan. Based in Lakeview, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Liberty National Bank, based in Bellefontaine, Ohio.

SBA Loan Borrower

COMPANY TYPE: AUTOMATIC MERCHANDISING MACHINE OPERATORS
LAKEVIEW, OH 43331

SBA Loan Lender

LIBERTY NATIONAL BANK
1120 N MAIN ST
BELLEFONTAINE, OH 43311

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.

SIC Code

5962 - Automatic Merchandising Machine Operators

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

2/2/2004

Loan Approval Gross Amount

$104,000

Loan Approval from the SBA

Of the total $104,000 loan amount, the SBA guaranteed $88,400.

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 did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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