Vending Machine Operators Business Loans

Looking for business loans for vending machine operators? The SBA may be the answer. This $28,600 vending machine operators loan was issued by a Kentucky bank.

This small business knew how to go about getting a business bank loan. Based in Paducah, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Paducah Bank & Trust, based in Paducah, Kentucky.

SBA Loan Borrower

COMPANY TYPE: AUTOMATIC MERCHANDISING MACHINE OPERATORS
PADUCAH, KY 42003

SBA Loan Lender

PADUCAH BANK & TRUST
555 JEFFERSON ST
PADUCAH, KY 42001

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5962 - Automatic Merchandising Machine Operators

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

2/29/2000

Loan Approval Gross Amount

$28,600

Loan Approval from the SBA

Of the total $28,600 loan amount, the SBA guaranteed $22,880.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees.

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

Although it's called an SBA loan, you 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Paducah Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Startup Funding Tip

Find an SBA Lender in Paducah, Kentucky

SBA Kentucky Lenders