Entrepreneur Works With Clinton, New Jersey Bank to Get an SBA Loan
Find Clinton, New Jersey banks that specialize in small business loans and know how to work with entrepreneurs. Unity Bank is one such bank, as evidenced by this SBA loan to one business.
Finding a small business loan in Linden, New Jersey starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Unity Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: SCHOOL AND EMPLOYEE BUS TRANSPORTATION
LINDEN, NJ 07036
SBA Loan Lender
UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
485410 - School and Employee Bus Transportation
Loan Approval Date
1/23/2004
Loan Approval Gross Amount
$175,000
Loan Approval from the SBA
Of the total $175,000 loan amount, the SBA guaranteed $87,500.
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 130 employees. The SBA loan documents indicated that the loan would help retain 130 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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.
Related Links:
SBIR Funding
SBA 7A Banks in Clinton, New Jersey
SBA New Jersey Lenders