Dallas, Texas Bank Gives SBA Loan to Support Activities For Oil And Gas Operations Company

Thinking about meeting with a Dallas, Texas bank about a business loan? Here's one Texas business loan, issued by a Dallas bank, that was approved by the SBA.

Applying for an SBA loan with Citibank worked out well for our friends at one local company in Electra, Texas. The business was able to get an SBA loan for $150,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR OIL AND GAS OPERATIONS
ELECTRA, TX 76360

SBA Loan Lender

CITIBANK
ONE LINCOLN PARK, 8401 N EXPR
DALLAS, TX 75225

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

213112 - Support Activities for Oil and Gas Operations

Loan Approval Date

2/23/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Electra TX, you ought to talk with a local Electra SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Electra businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Alternative Financing

SBA 7A Banks for Dallas, Texas Loans

Getting an SBA Loan in Texas