Unity Bank Gives Small Business Loan to Fitness And Recreational Sports Centers Company

Searching for a New Jersey small business loan? This New Jersey entrepreneur got a small business loan, provided by a New Jersey bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Metuchen, New Jersey by studying this loan to a local company, made back in 2004. Banks like Unity Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
METUCHEN, NJ 08840

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

The lender provided this debt financing 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

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

1/23/2004

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $45,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the funding would help create 2 new jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Metuchen NJ, you ought to talk with a local Metuchen SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Metuchen businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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