Clinton, New Jersey Bank Gives SBA Loan to Hotels And Motels Company

Find Clinton, New Jersey banks that specialize in SBA loans and know how to work with entrepreneurs. Unity Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Worth, Illinois starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Unity Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
Worth, IL 60482

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

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.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/10/2007

Loan Approval Gross Amount

$875,000

Loan Approval from the SBA

Of the total $875,000 loan amount, the SBA guaranteed $656,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

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 company got an SBA loan. You can too! Maybe you need seed money for a small business? 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:

Startup Funding Tip

Banks in Clinton, New Jersey

New Jersey SBA Banks