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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 > Groceries And Related Products Loan | ||||
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Examples of Newark SBA Loans
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Grocery and Related Products Wholesalers LoansWith these loans for grocery and related products wholesalers, the SBA guarantees the lender that the loan will be repaid. This grocery and related products wholesalers loan for $430,000 was given to a New Jersey entrepreneur in 2000. This company knew how to go about getting a business bank loan. Based in Newark, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Unity Bank, based in Clinton, New Jersey. SBA Loan Borrower COMPANY TYPE: GROCERIES AND RELATED PRODUCTS SBA Loan Lender UNITY BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5149 - Groceries and Related Products NAICS Code 422490 - Grocery and Related Products Wholesalers Loan Approval Date 4/17/2000 Loan Approval Gross Amount $430,000 Loan Approval from the SBA Of the total $430,000 loan amount, the SBA guaranteed $322,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 6 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Lenders in Clinton, New Jersey
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