SBA Loans for Drilling Oil and Gas Wells

Looking for SBA loans for drilling oil and gas wells? Try the SBA. This $700,000 drilling oil and gas wells loan was issued by a Texas bank.

This business knew how to go about getting a business bank loan. Based in Clyde, Texas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was 1st National Bank - Baird, based in Abilene, Texas.

SBA Loan Borrower

COMPANY TYPE: DRILLING OIL AND GAS WELLS
CLYDE, TX 79510

SBA Loan Lender

1ST NATIONAL BANK - BAIRD
1849 S FIRST ST
ABILENE, TX 79602

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1381 - Drilling Oil and Gas Wells

NAICS Code

213111 - Drilling Oil and Gas Wells

Loan Approval Date

4/20/2001

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 17 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 $700,000 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:

Obtaining Funding - How to Borrow Money

Best Abilene, Texas Banks for Small Business

Getting an SBA Loan in Texas