Clinton, New Jersey Lender Lends Money to Limited-Service Restaurants Company
A Clinton, New Jersey SBA loan can be yours. Learn how a company got a $227,900 business loan from this New Jersey bank.
This loan to an entrepreneur is a good example of an SBA loan. Unity Bank made the loan and the SBA guaranteed a portion of the loan. Many other New Jersey entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
VAUXHALL, NJ 07083
SBA Loan Lender
UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809
This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
11/16/2004
Loan Approval Gross Amount
$227,900
Loan Approval from the SBA
Of the total $227,900 loan amount, the SBA guaranteed $170,925.
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 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs.
Getting an SBA Loan For Your Business
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.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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:
Advice on Getting a Small Business Loan
Banks in Clinton, New Jersey
Where to Get an SBA Loan New Jersey