Loan Census Banking News and Information
April 20, 2021  
 
 
  Business Loan Information  
 

We Needed a Business Loan in Hingham, Massachusetts and We Got One!

 

 
Loan Census SBA Loan Info

Vending Machine Operators Loans

With these loans for vending machine operators, the SBA guarantees the lender that the loan will be repaid. This vending machine operators loan for $100,000 was given to a Massachusetts entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Hingham, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Sovereign Bank, based in Dorchester, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: AUTOMATIC MERCHANDISING MACHINE OPERATORS
HINGHAM, MA 02043

SBA Loan Lender

SOVEREIGN BANK
2 MORRISEY BLVD
DORCHESTER, MA 02125

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

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

2/21/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Credit Evaluation

Where to Get an SBA Loan in Dorchester, Massachusetts

SBA Massachusetts Lenders