Financing for Heating Oil Dealers
Looking for loans for heating oil dealers? Talk to a banker who works with the SBA. This $260,000 heating oil dealers loan was issued by a Pennsylvania bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dunbar, Pennsylvania was able to borrow $260,000 from First National Bank - Pennsylvania. The SBA made the loan possible by guaranteeing $195,000 of this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: HEATING OIL DEALERS
DUNBAR, PA 15431
SBA Loan Lender
FIRST NATIONAL BANK - PENNSYLVANIA
3320 E STATE ST
HERMITAGE, PA 16148
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
454311 - Heating Oil Dealers
Loan Approval Date
1/7/2005
Loan Approval Gross Amount
$260,000
Loan Approval from the SBA
Of the total $260,000 loan amount, the SBA guaranteed $195,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 16 employees. The SBA loan application for the borrower indicated that the loan would help retain 16 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Every year, the SBA guarantees over $10 billion for loans just like this one.
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:
Determining Proper Capital Structure for a Business
Small Business Banks in Hermitage, Pennsylvania
SBA Lenders in Pennsylvania