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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Amarillo, Business Loans > Herring Bank Amarillo Business Loans > Oil And Gas Field Services Loan | ||||
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SBA Lenders That Lend to Dumas Business Owners
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Herring Bank Gives Business Loan to Oil And Gas Field Services CompanyWould a Texas business loan help your company expand? If so, you may want to talk with this Texas bank, which offers SBA loans to Texas entrepreneurs. Getting a small business loan in Dumas, Texas was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Herring Bank. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: OIL AND GAS FIELD SERVICES SBA Loan Lender HERRING BANK This small business loan 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 1389 - Oil and Gas Field Services NAICS Code 213112 - Support Activities for Oil and Gas Operations Loan Approval Date 11/15/2002 Loan Approval Gross Amount $740,000 Loan Approval from the SBA Of the total $740,000 loan amount, the SBA guaranteed $555,000. 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 49 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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: Where to Get an SBA Loan in Amarillo, Texas
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