Business Loan from Unity Bank Given to Hotels And Motels Company

Unity Bank has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Absecon, New Jersey was able to borrow $950,000 from Unity Bank. The SBA made the loan possible by guaranteeing $712,500 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
ABSECON, NJ 08201

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

7/24/2002

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 8 existing jobs.

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

If you have been wondering how do i get money to start a business in Absecon NJ, you ought to talk with a local Absecon SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Absecon businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Unity Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Unity Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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