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May 4, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Clinton, Business Loans > Unity Bank Clinton Business Loans > Servpro Loan | ||||
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SBA 7A Banks in New Jersey
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Loan to Buy Servpro Franchise Issued By Unity BankBorrowing money to invest in a Servpro franchise? Unity Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Servpro franchise shouldn't be too tough. In 2004, Unity Bank issued an SBA franchise loan to an entrepreneur in East Hanover (township Of), New Jersey. Because Servpro was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis. SBA Loan Borrower SERVPRO SBA Loan Lender UNITY BANK 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 236220 - Commercial and Institutional Building Construction Loan Approval Date 10/4/2004 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job. Next Steps for Getting an SBA Loan If you are working on finding money to start a business in East Hanover (township Of) NJ, you ought to talk with a local East Hanover (township Of) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to East Hanover (township Of) businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Unity Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Unity Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Approved Banks in Clinton, New Jersey Where to Get an SBA Loan New Jersey
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