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May 17, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > Derby, Business Loans > Community National Bank Derby Business Loans > Heating Oil Dealers Loan | ||||
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Banks Doing SBA Loans in Vermont
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Derby, Vermont Bank Lends Money to Heating Oil Dealers Company in East Montpelier, VermontThinking about meeting with a Derby, Vermont bank about a small business loan? Here's one Vermont business loan, issued by a Derby bank, that was approved by the SBA. Applying for an SBA loan with Community National Bank worked out well for our friends at one local business in East Montpelier, Vermont. They got an SBA loan for $340,000. Sweet! SBA Loan Borrower COMPANY TYPE: HEATING OIL DEALERS SBA Loan Lender COMMUNITY NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 454311 - Heating Oil Dealers Loan Approval Date 9/26/2007 Loan Approval Gross Amount $340,000 Loan Approval from the SBA Of the total $340,000 loan amount, the SBA guaranteed $255,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 no employees. The SBA loan documents indicated that the funding would help generate 2 new jobs. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Community National 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. Related Links: Determining Proper Capital Structure for a Business Best Banks for Small Business in Derby, Vermont Getting an SBA Loan in Vermont
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