Unity Bank SBA Loan to Gasoline Stations With Convenience Stores Company

An SBA loan from Unity Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Ellsworth, Ohio business owner got a $1,640,000 loan.

Getting a small business loan in Ellsworth, Ohio was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Unity Bank, operating out of Clinton, New Jersey. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
ELLSWORTH, OH 44416

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

11/3/2005

Loan Approval Gross Amount

$1,640,000

Loan Approval from the SBA

Of the total $1,640,000 loan amount, the SBA guaranteed $1,230,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

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SBA 7A Lenders in Clinton, New Jersey

New Jersey SBA 7A Lenders