Single Family Housing Construction Loans
With these loans for single family housing construction, the SBA guarantees the lender that the loan will be repaid. This single family housing construction loan for $140,000 was given to a New Jersey entrepreneur in 2000.
This small firm knew how to go about getting a business bank loan. Based in Teaneck, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Unity Bank, based in Clinton, New Jersey.
SBA Loan Borrower
COMPANY TYPE: SINGLE FAMILY HOUSING CONSTRUCTION
TEANECK, NJ 07666
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
233210 - Single Family Housing Construction
Loan Approval Date
10/24/2000
Loan Approval Gross Amount
$140,000
Loan Approval from the SBA
Of the total $140,000 loan amount, the SBA guaranteed $105,000.
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 11 employees. The SBA loan documents indicated that the loan would help retain 11 existing jobs.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? 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:
Determining Proper Capital Structure for a Business
Who Lends Money to Small Businesses in Clinton, New Jersey
Getting a Business Loan in New Jersey