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December 20, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Phillipsburg, Business Loans > Unitedtrust Bank Phillipsburg Business Loans > Millwork Loan | ||||
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New Jersey Bank SBA Loans
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Unitedtrust Bank SBA Loan to Millwork CompanyWant a New Jersey SBA loan? Here's one New Jersey business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Flemington, New Jersey was able to borrow $100,000 from Unitedtrust Bank. The SBA made the loan possible by guaranteeing $50,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: MILLWORK SBA Loan Lender UNITEDTRUST BANK This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 2431 - Millwork Loan Approval Date 8/25/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Unitedtrust Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Banks in Phillipsburg, New Jersey
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