Financing for Activities Related to Credit Intermediation
With these loans for activities related to credit intermediation, the SBA guarantees the lender that the loan will be repaid. This activities related to credit intermediation loan for $65,000 was given to a New Jersey entrepreneur in 2007.
This small firm knew how to go about getting a business bank loan. Based in Paterson, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Unity Bank, based in Clinton, New Jersey.
SBA Loan Borrower
COMPANY TYPE: ACTIVITIES RELATED TO CREDIT INTERMEDIATION
Paterson, NJ 07501
SBA Loan Lender
UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
522390 - Activities Related to Credit Intermediation
Loan Approval Date
11/15/2007
Loan Approval Gross Amount
$65,000
Loan Approval from the SBA
Of the total $65,000 loan amount, the SBA guaranteed $32,500.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.
Start the Process for Getting an SBA Loan Today!
Many small businesses receive loans backed by the U.S. Small Business Administration.
If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Unity Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
SBIR Funding
Small Business Banks in Clinton, New Jersey
Getting an SBA Loan in New Jersey