Vending Machine Operators Commercial Loans

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 $190,000 was given to a Rhode Island entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lincoln (br. P.O.), Rhode Island was able to borrow $190,000 from Metro Cu. The SBA made the loan possible by guaranteeing $95,000 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
LINCOLN (BR. P.O.), RI 02865

SBA Loan Lender

METRO CU
200 REVERE BEACH PKWY
CHELSEA, MA 02150

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

11/16/2006

Loan Approval Gross Amount

$190,000

Loan Approval from the SBA

Of the total $190,000 loan amount, the SBA guaranteed $95,000.

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 only one employee. The loan application indicated that the borrowed money would help generate 1 new job.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Metro Cu 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.

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