Financing for Heating Oil Dealers

Looking for loans for heating oil dealers? The SBA may be the answer. This $175,000 heating oil dealers loan was issued by a Maryland bank.

Getting a small business loan in Annapolis, Maryland was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Anne Arundel Economic Develop., operating out of Annapolis, Maryland. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: FUEL OIL DEALERS
ANNAPOLIS, MD 21401

SBA Loan Lender

ANNE ARUNDEL ECONOMIC DEVELOP.
2660 RIVA RD, STE 200
ANNAPOLIS, MD 21401

This bank loan 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.

SIC Code

5983 - Fuel Oil Dealers

NAICS Code

454311 - Heating Oil Dealers

Loan Approval Date

2/11/2003

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $131,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Anne Arundel Economic Develop. and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Famous Venture Capitalists

Find an SBA Lender in Annapolis, Maryland

Browse All Business Loan Sources for Maryland