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May 13, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Clinton, Business Loans > Unity Bank Clinton Business Loans > Full-Service Restaurants Loan | ||||
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SBA Lender Clinton
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Entrepreneur Works With Clinton, New Jersey Bank to Get an SBA LoanGet to know Clinton, New Jersey banks that specialize in small business loans and know how to work with entrepreneurs. Unity Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Ithaca, New York starts with an understanding of who else has gotten loans in the area. In this case, a small company 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: FULL-SERVICE RESTAURANTS SBA Loan Lender UNITY BANK This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 7/12/2005 Loan Approval Gross Amount $138,000 Loan Approval from the SBA Of the total $138,000 loan amount, the SBA guaranteed $117,300. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 SBA 7A Lenders in Clinton, New Jersey Getting an SBA Loan in New Jersey
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