Vitus Secures $37M Federally Guaranteed Loan to Improve Fuel Infrastructure
Photo Credit: Patricia Morales | Alaska Business
Vitus, the Alaska-based bulk fuel services, freight lighterage, and energy products company, secured $37 million in US Department of Agriculture (USDA) Business and Industry loan funding to improve its fuel infrastructure and drive economic growth in rural Alaska.
Second Series of USDA Loans
The loans were secured by three Vitus companies: Vitus Marine, Greatland Fuel Sales, and Vitus Terminals. Phoenix Lender Services facilitated the loans with Community Bank and Trust. Phoenix is a subsidiary of Community Bankshares Inc., which originated, underwrote, and closed the loans, while Community Bank and Trust funded the loans.
“These partnerships represent the impact we strive to achieve—empowering rural businesses to grow and continuing to serve communities with critical services,” says Chris Hurn, president and CEO of Phoenix Lender Services. “Vitus Marine, Greatland Fuel Sales, and Vitus Terminals are vital to Alaska’s energy infrastructure, and we’re proud to support them through the USDA B&I [Business and Industry] Program.”
Current Issue
July 2025
The $37 million is the second series of loans to Vitus in just over a year. The company received a total of $25 million in three USDA Business and Industry loans in June 2024. These two loan tranches secured more than $62 million for the three Vitus business lines, allowing the company to strengthen energy infrastructure in Alaska. The investments support existing jobs, improve access to essential energy resources, and bolster local economies in some of Alaska’s most remote regions, the company says.
“Fuel and energy access is an essential service for all people. Energy access is not a luxury for the people we serve,” says Justin Charon, owner and CEO of Vitus. “This collaboration ensures that our customers can continue to depend on us, no matter how remote their community or harsh the delivery season.”
These loans offer favorable terms with lower interest rates and longer repayment terms, reducing financial burdens and demonstrating a commitment to the sustainability and growth of rural businesses. The investments highlight a public-private partnership focused on preserving access, affordability, and economic opportunity for some of America’s most underserved regions.
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