Growing Company Gets a New York Small Business Loan

Want a New York bank loan? This New York 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 Huntington Station, New York 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 York small business loan.

SBA Loan Borrower

COMPANY TYPE: REPOSSESSION SERVICES
Huntington Station, NY 11746

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561491 - Repossession Services

Loan Approval Date

3/28/2007

Loan Approval Gross Amount

$831,500

Loan Approval from the SBA

Of the total $831,500 loan amount, the SBA guaranteed $623,625.

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 12 employees. The loan application indicated that the loan would help retain 12 existing jobs.

Next Steps for Getting an SBA Loan

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Unity Bank and they will explain how you can get an SBA loan for your company.

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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