Wilson, North Carolina Business Gets SBA-Guaranteed Funding from Unity Bank

Unity Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one North Carolina entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Wilson, North Carolina was an essential business goal for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Unity Bank, operating out of Clinton, New Jersey. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
WILSON, NC 27896

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/23/2004

Loan Approval Gross Amount

$720,000

Loan Approval from the SBA

Of the total $720,000 loan amount, the SBA guaranteed $540,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 13 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

SBA 7A Lenders in Clinton, New Jersey

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