Loans for Heating Oil Dealers

Looking for loans for heating oil dealers? The SBA may be the answer. This $150,000 heating oil dealers loan was issued by a Massachusetts bank.

This small firm knew how to go about getting a business bank loan. Based in Belmont, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Northmark Bank, based in Winchester, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: PETROLEUM BULK STATIONS AND TERMINALS
BELMONT, MA 02478

SBA Loan Lender

NORTHMARK BANK
26 MOUNT VERNON ST
WINCHESTER, MA 01890

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5171 - Petroleum Bulk Stations and Terminals

NAICS Code

454311 - Heating Oil Dealers

Loan Approval Date

11/20/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Northmark Bank and they will explain how you can get an SBA loan for your company.

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.

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