Where to Get Capital 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 $20,000 was given to a Texas entrepreneur in 2002.

Getting a small business loan in Weslaco, Texas was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Texas State Bank, operating out of Weslaco, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
WESLACO, TX 78596

SBA Loan Lender

TEXAS STATE BANK
500 S MISSOURI
WESLACO, TX 78596

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

9/11/2002

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Texas State 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.

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