Unity Bank Provides SBA Loan to Buy Mobil Oil stations Franchise
Borrowing money to invest in a Mobil Oil stations franchise? Unity Bank has a history of making these loans and they are guaranteed by the SBA.
If you live near Manalapan, New Jersey and are interested in buying a Mobil Oil stations franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Unity Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.
SBA Loan Borrower
MOBILE & CIRCLE K CONVENIENCE
MANALAPAN, NJ 07726
SBA Loan Lender
UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809
This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
447110 - Gasoline Stations with Convenience Stores
Loan Approval Date
10/7/2003
Loan Approval Gross Amount
$1,250,000
Loan Approval from the SBA
Of the total $1,250,000 loan amount, the SBA guaranteed $937,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Mobil Oil stations franchise. At the time of the loan, the company
had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
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.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Unity Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Unity Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
Bank Credit Lines
Good Banks for Small Business in Clinton, New Jersey
SBA Lenders in New Jersey