SBA Loan from Unity Bank Helps Musical Instrument And Supplies Stores Company
Unity Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey entrepreneur was able to get a loan to take a small business to the next level.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rahway, New Jersey was able to borrow $250,000 from Unity Bank. The SBA made the loan possible by guaranteeing $187,500 of this New Jersey small business loan.
SBA Loan Borrower
COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES
RAHWAY, NJ 07065
SBA Loan Lender
UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809
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
451140 - Musical Instrument and Supplies Stores
Loan Approval Date
8/3/2001
Loan Approval Gross Amount
$250,000
Loan Approval from the SBA
Of the total $250,000 loan amount, the SBA guaranteed $187,500.
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 SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide money to small business owners for working capital for other expenses.
This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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:
How to Raise Money
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Where to Get an SBA Loan New Jersey