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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 > Holding Companies Loan | ||||
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Unity Bank SBA 7A Loans
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Getting an SBA Loan for Holding CompaniesLooking for SBA loans for holding companies? Try the SBA. This $168,800 holding companies loan was issued by a New Jersey bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Linden, New Jersey was able to borrow $168,800 from Unity Bank. The SBA made the loan possible by guaranteeing $126,600 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: HOLDING COMPANIES SBA Loan Lender UNITY BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 551112 - Holding Companies Loan Approval Date 1/16/2002 Loan Approval Gross Amount $168,800 Loan Approval from the SBA Of the total $168,800 loan amount, the SBA guaranteed $126,600. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 Unity 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: SBA 7A Banks for Clinton, New Jersey Loans
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