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December 19, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Phillipsburg, Business Loans > Unity Bank Phillipsburg Business Loans > Eating Places Loan | ||||
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Banks Doing SBA Loans in New Jersey
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Entrepreneur Works With Phillipsburg, New Jersey Bank to Get an SBA LoanA Phillipsburg, New Jersey SBA loan can be yours. Learn how one firm got a $1,238,000 business loan from this New Jersey bank. This loan to a local firm is a good example of an SBA loan. Unity Bank made the loan and the SBA guaranteed a portion of the loan. Many other New Jersey entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender UNITY BANK This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722410 - Drinking Places Loan Approval Date 10/15/2004 Loan Approval Gross Amount $1,238,000 Loan Approval from the SBA Of the total $1,238,000 loan amount, the SBA guaranteed $928,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA Approved Banks in Phillipsburg, New Jersey Browse All Business Loan Sources for New Jersey
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