Heating Oil Dealers Business Loans

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 $950,000 was given to a Massachusetts entrepreneur in 2001.

Getting a small business loan in Springfield, Massachusetts was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Monson Savings Bank, operating out of Monson, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: HEATING OIL DEALERS
SPRINGFIELD, MA 01089

SBA Loan Lender

MONSON SAVINGS BANK
146 MAIN ST
MONSON, MA 01057

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

6/14/2001

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

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 15 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 15 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Attracting Investors

SBA Participating Banks in Monson, Massachusetts

Getting an SBA Loan in Massachusetts