Grocery and Related Products Wholesalers Loans

With 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
NEWARK, NJ 07114

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

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.

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