 |
 |
December 24, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Clinton, Business Loans > Unity Bank Clinton Business Loans > Limited-Service Restaurants Loan | ||||
 |
||||
Unity Bank Business Loans
|
||||
 |
Limited-Service Restaurants Commercial LoansWith these commercial loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $100,000 was given to a New Jersey entrepreneur in 2005. This business knew how to go about getting a business bank loan. Based in Hazlet, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Unity Bank, based in Clinton, New Jersey. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender UNITY BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/19/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 1 new job and retain 5 existing jobs. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Best Clinton, New Jersey Banks for Small Business
|
|
||
|
||||
|
|
||||