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March 29, 2024  
 
 
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I Need a Small Business Loan to Buy a Franchise in Lexington (town Of), Massachusetts

 

 
Loan Census SBA Loan Info

Banco Popular North America Provides SBA Loan to Buy 24 Seven Vending Franchise

Need money to buy a 24 Seven Vending franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a 24 Seven Vending franchise? If so, here's a 2006 SBA franchise loan that you should know about. Banco Popular North America was the lender and the entrepreneur was based in Lexington (town Of), Massachusetts.

SBA Loan Borrower

JCM VENDING - 24 SEVEN VENDING
LEXINGTON (TOWN OF), MA 02420

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

7/25/2006

Loan Approval Gross Amount

$176,900

Loan Approval from the SBA

Of the total $176,900 loan amount, the SBA guaranteed $132,675.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a 24 Seven Vending franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

If you need business start up money in Lexington (town Of) MA, you ought to talk with a local Lexington (town Of) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lexington (town Of) businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

24seven Vending (US), Inc.

Obtaining Funding From a Venture Capitalist

Who Lends Money to Small Businesses in New York City, New York

Getting an SBA Loan in New York