Business Loan from Unity Bank Given to Gasoline Service Stations Company

Unity Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maryland entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Pocomoke, Maryland, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Unity Bank, based in Clinton, New Jersey.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
POCOMOKE, MD 21851

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to give speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447190 - Gasoline Stations

Loan Approval Date

12/20/2001

Loan Approval Gross Amount

$850,000

Loan Approval from the SBA

Of the total $850,000 loan amount, the SBA guaranteed $637,500.

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 10 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

We've showcased information on this loan to let you know that businesses like yours 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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