Business Loan from Ups Capital Business Credit Given to Fuel Oil Dealers Company
Ups Capital Business Credit and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level.
This small firm knew how to go about getting a business bank loan. Based in Walden, New York, they applied for and received 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
WALDEN, NY 12586
SBA Loan Lender
UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095
This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount.
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
1/10/2000
Loan Approval Gross Amount
$40,000
Loan Approval from the SBA
Of the total $40,000 loan amount, the SBA guaranteed $32,000.
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 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
Many small businesses receive loans backed by the U.S. Small Business Administration.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Ups Capital Business Credit are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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:
Business Cash Advances
SBA Banks in Windsor, Connecticut
Connecticut SBA 7A Lenders