Book Stores Small Business Loans
With these small business loans for book stores, the SBA guarantees the lender that the loan will be repaid. This book stores loan for $400,000 was given to a New Jersey entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clinton, New Jersey was able to borrow $400,000 from Unity Bank. The SBA made the loan possible by guaranteeing $300,000 of this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: BOOK STORES
CLINTON, NJ 08809
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
451211 - Book Stores
Loan Approval Date
6/6/2003
Loan Approval Gross Amount
$400,000
Loan Approval from the SBA
Of the total $400,000 loan amount, the SBA guaranteed $300,000.
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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.
Getting an SBA Loan For Your Business
Many small businesses receive loans backed by the U.S. Small Business Administration.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Unity Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Microlending as a Small Business Funding Source
SBA Approved Banks in Clinton, New Jersey
SBA New Jersey Banks