How to Get a Loan for Vending Machine Operators

With these SBA loans for vending machine operators, the SBA guarantees the lender that the loan will be repaid. This vending machine operators loan for $361,000 was given to a New York entrepreneur in 2006.

This small business knew how to go about getting a business bank loan. Based in Seneca Falls, New York, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was The Lyons National Bank, based in Geneva, New York.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
SENECA FALLS, NY 13148

SBA Loan Lender

THE LYONS NATIONAL BANK
41 SENECA ST
GENEVA, NY 14456

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

8/4/2006

Loan Approval Gross Amount

$361,000

Loan Approval from the SBA

Of the total $361,000 loan amount, the SBA guaranteed $270,750.

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 20 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from The Lyons National Bank 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:

Business Credit Evaluation

SBA 7A Lenders in Geneva, New York

New York SBA 7A Banks