Financing for Heating Oil Dealers

With these commercial loans for heating oil dealers, the SBA guarantees the lender that the loan will be repaid. This heating oil dealers loan for $765,000 was given to a Connecticut entrepreneur in 2003.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Ups Capital Business Credit, out of Windsor, Connecticut. The loan was granted and they received $765,000 to help grow their New London, Connecticut business.

SBA Loan Borrower

COMPANY TYPE: HEATING OIL DEALERS
NEW LONDON, CT 06320

SBA Loan Lender

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

At the time this loan was granted, this bank was part of the SBA's Certified Lenders Program (CLP). This program was created to provide fast 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.

NAICS Code

454311 - Heating Oil Dealers

Loan Approval Date

3/31/2003

Loan Approval Gross Amount

$765,000

Loan Approval from the SBA

Of the total $765,000 loan amount, the SBA guaranteed $573,750.

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 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Dealing With Venture Capitalists

Find an SBA Lender in Windsor, Connecticut

Connecticut SBA Bank Lenders