Business Loans for Personal Services

Looking for business loans for personal services? The SBA may be the answer. This $1,900,000 personal services loan was issued by a New Jersey bank.

This small business knew how to go about getting a business bank loan. Based in Brooklyn, New York, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Unity Bank, based in Clinton, New Jersey.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
Brooklyn, NY 11224

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

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

812990 - Personal Services

Loan Approval Date

7/2/2007

Loan Approval Gross Amount

$1,900,000

Loan Approval from the SBA

Of the total $1,900,000 loan amount, the SBA guaranteed $1,425,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 no employees. The loan application indicated that the loan would help generate 12 new jobs and retain 12 existing jobs.

Getting an SBA Loan For Your Business

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Unity Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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Banks in Clinton, New Jersey

Where to Get an SBA Loan New Jersey