Financing for Automatic Vending Machine Manufacturing

With these loans for automatic vending machine manufacturing, the SBA guarantees the lender that the loan will be repaid. This automatic vending machine manufacturing loan for $115,200 was given to a New Hampshire entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Penacook, New Hampshire was able to borrow $115,200 from Td Banknorth. The SBA made the loan possible by guaranteeing $57,600 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMATIC VENDING MACHINE MANUFACTURING
Penacook, NH 03303

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

333311 - Automatic Vending Machine Manufacturing

Loan Approval Date

3/10/2005

Loan Approval Gross Amount

$115,200

Loan Approval from the SBA

Of the total $115,200 loan amount, the SBA guaranteed $57,600.

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 only one employee. The loan application indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $115,200 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Getting a Small Business Loan

Banks in Portland, Maine

SBA Participating Banks in Maine