East Orange, New Jersey Entrepreneur Gets a Bank Loan

Want a New Jersey bank loan? This New Jersey entrepreneur got a bank loan, provided by a New Jersey bank that works with the SBA to help small business owners.

Getting a small business loan in East Orange, New Jersey was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Unity Bank. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
East Orange, NJ 07018

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

1/25/2007

Loan Approval Gross Amount

$216,000

Loan Approval from the SBA

Of the total $216,000 loan amount, the SBA guaranteed $162,000.

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 no employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Alternative Financing

Small Bank Loans in Clinton, New Jersey

Where to Get an SBA Loan New Jersey