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May 16, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Clinton, Business Loans > Unity Bank Clinton Business Loans > Hotels And Motels Loan | ||||
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Unity Bank
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Prudenville, Michigan Business Gets SBA-Guaranteed Funding from Unity BankAn SBA loan from Unity Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Prudenville, Michigan business owner got a $595,000 loan. This growing company knew how to go about getting a business bank loan. Based in Prudenville, Michigan, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Unity Bank, based in Clinton, New Jersey. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender UNITY BANK This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 5/24/2001 Loan Approval Gross Amount $595,000 Loan Approval from the SBA Of the total $595,000 loan amount, the SBA guaranteed $446,250. 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. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Unity Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Obtaining Funding From a Venture Capitalist Best Banks in Clinton, New Jersey
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