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December 20, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Phillipsburg, Business Loans > Unitedtrust Bank Phillipsburg Business Loans > Repair Shops And Related Services Loan | ||||
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New Jersey Bank SBA Loans
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Unitedtrust Bank SBA Loan to Repair Shops And Related Services CompanyWant a New Jersey business loan? Here's one New Jersey business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Somerville, New Jersey was able to borrow $225,000 from Unitedtrust Bank. The SBA made the loan possible by guaranteeing $168,750 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender UNITEDTRUST BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7699 - Repair Shops and Related Services Loan Approval Date 9/15/2000 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This SBA loan was for $225,000. How would you spend $225,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Good Banks for Small Business in Phillipsburg, New Jersey Getting an SBA Loan in New Jersey
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