Getting an SBA Loan for Heating Oil Dealers

With these business loans for heating oil dealers, the SBA guarantees the lender that the loan will be repaid. This heating oil dealers loan for $875,000 was given to a Connecticut entrepreneur in 2000.

This business knew how to go about getting a business bank loan. Based in East Hartford, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Ups Capital Business Credit, based in Windsor, Connecticut.

SBA Loan Borrower

COMPANY TYPE: FUEL OIL DEALERS
EAST HARTFORD, CT 06108

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095

When it made this small business loan, this bank was part of the SBA's Certified Lenders Program (CLP). This program aims to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

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

7/26/2000

Loan Approval Gross Amount

$875,000

Loan Approval from the SBA

Of the total $875,000 loan amount, the SBA guaranteed $656,250.

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 33 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Ups Capital Business Credit 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.

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