New Jersey Small Business Loan Issued to Heating Oil Dealers Company

Searching for a New Jersey business loan? This New Jersey entrepreneur got a business loan, provided by a New Jersey bank that works with the SBA to help small business owners.

Getting a small business loan in Phillipsburg, New Jersey was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First State Bank. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: HEATING OIL DEALERS
PHILLIPSBURG, NJ 08865

SBA Loan Lender

FIRST STATE BANK
16 COMMERCE DR
CRANFORD, NJ 07016

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454311 - Heating Oil Dealers

Loan Approval Date

10/3/2007

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $56,250.

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 23 employees. The SBA loan application for the borrower indicated that the loan would help generate 23 new jobs and retain 23 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 First State Bank 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.

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