SBA Loans for Support Activities for Oil and Gas Operations

Looking for SBA loans for support activities for oil and gas operations? An SBA loan may be just what you've been looking for. This $100,000 support activities for oil and gas operations loan was issued by a New Mexico bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hobbs, New Mexico was able to borrow $100,000 from Lea County State Bank. The SBA made the loan possible by guaranteeing $85,000 of this New Mexico small business loan.

SBA Loan Borrower

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

SBA Loan Lender

LEA COUNTY STATE BANK
1017 N TURNER
HOBBS, NM 88240

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a 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. Right now, the maximum small business loan for this SBA program is $100,000.

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

8/28/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours 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:

Obtaining Funding - How to Borrow Money

Where to Get an SBA Loan in Hobbs, New Mexico

Getting a Business Loan in New Mexico