Get an SBA Loan for Vending Machine Operators

With these bank loans for vending machine operators, the SBA guarantees the lender that the loan will be repaid. This vending machine operators loan for $60,000 was given to a Texas entrepreneur in 2004.

Getting a small business loan in Texarkana, Texas was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bancorpsouth Bank, operating out of Texarkana, Arkansas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
TEXARKANA, TX 75503

SBA Loan Lender

BANCORPSOUTH BANK
3RD & OLIVE ST
TEXARKANA, AR 71854

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

2/13/2004

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This SBA loan was for $60,000. How would you spend $60,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Raising VC Money for Social Networking Companies

Find an SBA Lender in Texarkana, Arkansas

SBA Lenders in Arkansas