LONG BRANCH, N.J. (May 29, 2018) - Unity Bank has provided an $880,000 Small Business Administration (SBA) loan to Mary and Konstantenos Koutantos of Red Bank to fund the opening of the Sides Grill Diner & Café at 680 Broadway. The couple has owned several restaurants in the region, most recently the Raceway Diner in West Long Branch.
Mary Koutantos, 65, is a commercial real estate and insurance broker and also works at the Sides Grill Diner, welcoming customers and friends to have a pleasant eating experience. Konstantenos Koutantos, 68, is the diner's manager, executive chef and also shops local farms for fresh ingredients. The couple emigrated from Greece in the 1960s. Their new multi-use property is located about a mile from the beach and contains a 1,500-square-foot restaurant that seats 67 people and a rented two-family home.
"The property previously housed a Mexican restaurant that has been vacant for about two years," said Mary Koutantos. "The restaurant has been completely renovated and we are excited to be open for business. I have worked with Unity Bank for many years in my real estate business and they are always a great financial partner. The restaurant is in a terrific location and many of our friends and previous customers have already come back to us and we are receiving many catering requests."
The new restaurant is designed with a seaside theme, featuring an updated exterior and interior. Bright colors, a mixture of tile and hardwood flooring and an inviting décor provide a welcoming atmosphere for the fresh food featured at the Sides Grill. The menu includes traditional American diner fare as well as Greek specialties. The restaurant is currently open from 7 a.m. to 4 p.m., Sunday through Thursday, and Friday and Saturday 7 a.m. to 9 p.m. For more information, please call (848) 303-8290 or (848) 303-8290.
"It was a pleasure helping Mary and Konstantenos Koutantos open their new restaurant," said Unity Bank President & CEO James A. Hughes. "As a community bank, we specialize in helping small businesses obtain the resources they need to be successful. It is extremely rewarding when we can help successful, committed entrepreneurs like the Koutantos realize their business goals."
Unity participates in the 7(a) Loan Program, SBA's primary program to help start-up and existing small businesses obtain financing when they might not be eligible for business loans through normal lending channels. The bank also participates in the SBA 504 Loan program, an economic development program that offers small businesses long-term, fixed-rate financing used to acquire fixed assets for expansion or modernization. Unity Bank is consistently among the top 10 of New Jersey SBA lenders in loan volume. The program also serves parts of Pennsylvania and is expanding into New York.
About Unity Bancorp, Inc.
Unity Bancorp, Inc. (NASDAQ: UNTY), the parent company of Unity Bank, its primary and wholly owned subsidiary, is a financial services organization headquartered in Clinton, N.J. Unity Bank provides financial services to businesses and consumers at 18 branches throughout New Jersey and the Lehigh Valley, Pennsylvania. Unity Bank provides community-oriented commercial banking services, including deposit accounts, loans, online and mobile services. For more information, please visit www.unitybank.com or call 800-618-BANK (800-618-2265).