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April 28, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Memphis, Business Loans > Trust One Bank Memphis Business Loans > Automatic Merchandising Machine Operators Loan | ||||
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Trust One Bank Loans
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Loans for Vending Machine OperatorsLooking for loans for vending machine operators? An SBA loan may be just what you've been looking for. This $457,347 vending machine operators loan was issued by a Tennessee bank. This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Trust One Bank, out of Memphis, Tennessee. The loan was granted and they received $457,347 to help grow their Collierville, Tennessee business. SBA Loan Borrower COMPANY TYPE: AUTOMATIC MERCHANDISING MACHINE OPERATORS SBA Loan Lender TRUST ONE BANK This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. 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 5/8/2006 Loan Approval Gross Amount $457,347 Loan Approval from the SBA Of the total $457,347 loan amount, the SBA guaranteed $343,010. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. This SBA loan was for $457,347. How would you spend $457,347 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: Banking Deregulation's Effects on Entrepreneurship Good Banks for Small Business in Memphis, Tennessee
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