Financing for Supermarkets and Grocery Stores
Looking for commercial loans for supermarkets and grocery stores? The SBA may be the answer. This $280,000 supermarkets and grocery stores loan was issued by a New Jersey bank.
This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Unity Bank, out of Clinton, New Jersey. The loan was granted and they received $280,000 to help grow their Bridgeton, New Jersey business.
SBA Loan Borrower
COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
Bridgeton, NJ 08302
SBA Loan Lender
UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
445110 - Supermarkets and Grocery Stores
Loan Approval Date
6/12/2007
Loan Approval Gross Amount
$280,000
Loan Approval from the SBA
Of the total $280,000 loan amount, the SBA guaranteed $210,000.
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 no employees. The loan application indicated that the funding would help create 3 new jobs.
Getting an SBA Loan For Your Business
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
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.
Related Links:
Obtaining Funding - Friends and Family
Best Clinton, New Jersey Banks for Small Business
Getting an SBA Loan in New Jersey