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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 > Beer, Wine, And Liquor Stores Loan | ||||
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Newark Business Loan from Unity Bank
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SBA Loan from Unity Bank Helps Beer, Wine, And Liquor Stores CompanyUnity Bank has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in Newark, New Jersey, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Unity Bank, based in Clinton, New Jersey. SBA Loan Borrower COMPANY TYPE: BEER, WINE, AND LIQUOR STORES SBA Loan Lender UNITY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445310 - Beer, Wine, and Liquor Stores Loan Approval Date 5/31/2006 Loan Approval Gross Amount $1,290,000 Loan Approval from the SBA Of the total $1,290,000 loan amount, the SBA guaranteed $967,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! If you are raising money in Newark NJ, you ought to talk with a local Newark SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Newark 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. Related Links:
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