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November 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Clinton, Business Loans > Unity Bank Clinton Business Loans > Cottman Transmissions Loan | ||||
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How Much Does It Cost to Buy a Franchise in Hamilton Square, New Jersey?
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New Jersey Entrepreneur Secures Financing to Buy Cottman Transmission FranchiseBorrowing money to purchase a Cottman Transmission franchise? Unity Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Hamilton Square, New Jersey needed money to invest in a Cottman Transmission franchise back in 2001. Unity Bank issued an SBA franchise loan. Here are the details on this New Jersey small business loan. SBA Loan Borrower COTTMAN TRANSMISSIONS SBA Loan Lender UNITY BANK This lender provides SBA commercial 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 811113 - Automotive Transmission Repair Loan Approval Date 8/2/2001 Loan Approval Gross Amount $160,000 Loan Approval from the SBA Of the total $160,000 loan amount, the SBA guaranteed $120,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Raising VC Money for Social Networking Companies Who Lends Money to Small Businesses in Clinton, New Jersey SBA Participating Banks in New Jersey
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