Support Activities for Oil and Gas Operations Loans

With these loans for support activities for oil and gas operations, the SBA guarantees the lender that the loan will be repaid. This support activities for oil and gas operations loan for $224,600 was given to a New Mexico entrepreneur in 2006.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with The First National Bank, out of Artesia, New Mexico. The loan was granted and they received $224,600 to help grow their Hobbs, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR OIL AND GAS OPERATIONS
HOBBS, NM 88240

SBA Loan Lender

THE FIRST NATIONAL BANK
303 W MAIN ST
ARTESIA, NM 88211

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending 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

9/11/2006

Loan Approval Gross Amount

$224,600

Loan Approval from the SBA

Of the total $224,600 loan amount, the SBA guaranteed $168,450.

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. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 7 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are raising money in Hobbs NM, you ought to talk with a local Hobbs SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hobbs businesses.

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 $224,600 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 Decide How Much to Raise

SBA Banks in Artesia, New Mexico

Where to Get an SBA Loan New Mexico