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December 22, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Farmington, Business Loans > Four Corners Community Bank Farmington Business Loans > Drilling Oil And Gas Wells Loan | ||||
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Aztec, New Mexico Bank for SBA Loans
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How to Get a Loan for Drilling Oil and Gas WellsWith these commercial loans for drilling oil and gas wells, the SBA guarantees the lender that the loan will be repaid. This drilling oil and gas wells loan for $75,000 was given to a New Mexico entrepreneur in 2001. Getting a small business loan in Aztec, New Mexico was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Four Corners Community Bank, operating out of Farmington, New Mexico. Here are the details on this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: DRILLING OIL AND GAS WELLS SBA Loan Lender FOUR CORNERS COMMUNITY BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 213111 - Drilling Oil and Gas Wells Loan Approval Date 3/16/2001 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $75,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA Approved Banks in Farmington, New Mexico
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