How to Get a Loan for Transit and Ground Passenger Transportation

With these commercial loans for transit and ground passenger transportation, the SBA guarantees the lender that the loan will be repaid. This transit and ground passenger transportation loan for $25,000 was given to a New Jersey entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Lebanon, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Unity Bank, based in Clinton, New Jersey.

SBA Loan Borrower

COMPANY TYPE: TRANSIT AND GROUND PASSENGER TRANSPORTATION
LEBANON, NJ 08833

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

485999 - Transit and Ground Passenger Transportation

Loan Approval Date

6/15/2004

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

SBIR Funding

Best Clinton, New Jersey Banks for Small Business

Getting an SBA Loan in New Jersey