Borrowing Money 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 $28,000 was given to an Oklahoma entrepreneur in 2003.

Hands On Vending received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $28,000 to help grow their Tulsa, Oklahoma business.

SBA Loan Borrower

HANDS ON VENDING
2418 S 137TH EAST AVE
TULSA, OK 74134

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

The lender provided this small business 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

454210 - Vending Machine Operators

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$28,000

Loan Approval from the SBA

Of the total $28,000 loan amount, the SBA guaranteed $14,000.

More Information on This SBA Loan

The borrower, Hands On Vending, 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 indicated that the loan would help retain 1 existing job. This loan was paid in full, and was closed out on 1/4/2007.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Hands On Vending got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Banking Deregulation's Effects on Entrepreneurship

Where to Get an SBA Loan in Charlotte, North Carolina

Where to Get an SBA Loan North Carolina

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