Loan to Buy Servpro Franchise Issued By Unity Bank

Borrowing money to invest in a Servpro franchise? Unity Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Servpro franchise shouldn't be too tough. In 2004, Unity Bank issued an SBA franchise loan to an entrepreneur in East Hanover (township Of), New Jersey. Because Servpro was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

SERVPRO
EAST HANOVER (TOWNSHIP OF), NJ 07936

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

236220 - Commercial and Institutional Building Construction

Loan Approval Date

10/4/2004

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in East Hanover (township Of) NJ, you ought to talk with a local East Hanover (township Of) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to East Hanover (township Of) 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.

Related Links:

ServPro

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SBA Approved Banks in Clinton, New Jersey

Where to Get an SBA Loan New Jersey