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December 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Fort Worth, Business Loans > Southwest Bank Fort Worth Business Loans > Oil And Gas Field Machinery And Equipment Manufacturing Loan | ||||
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Southwest Bank SBA 7A Loans
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Borrowing Money for Oil and Gas Field Machinery and Equipment ManufacturingLooking for loans for oil and gas field machinery and equipment manufacturing? The SBA may be the answer. This $1,920,000 oil and gas field machinery and equipment manufacturing loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in El Campo, Texas was able to borrow $1,920,000 from Southwest Bank. The SBA made the loan possible by guaranteeing $998,400 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: OIL AND GAS FIELD MACHINERY AND EQUIPMENT MANUFACTURING SBA Loan Lender SOUTHWEST BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333132 - Oil and Gas Field Machinery and Equipment Manufacturing Loan Approval Date 4/23/2001 Loan Approval Gross Amount $1,920,000 Loan Approval from the SBA Of the total $1,920,000 loan amount, the SBA guaranteed $998,400. 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 74 employees. This SBA loan request indicated that the loan would help generate 40 new jobs and retain 75 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 Southwest 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: How Much Venture Capital Is There? SBA 7A Banks in Fort Worth, Texas
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