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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Midland, Business Loans > American State Bank Midland Business Loans > Support Activities For Oil And Gas Operations Loan | ||||
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Midland, Texas SBA Banks
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Entrepreneur Works With Midland, Texas Bank to Get an SBA LoanThinking about meeting with a Midland, Texas bank about an SBA loan? Here's one Texas business loan, issued by a Midland bank, that was approved by the SBA. Applying for an SBA loan with American State Bank worked out well for our friends at one local company in Levelland, Texas. The business was able to get an SBA loan for $147,200. Way to go! SBA Loan Borrower COMPANY TYPE: SUPPORT ACTIVITIES FOR OIL AND GAS OPERATIONS SBA Loan Lender AMERICAN STATE BANK This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. 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 6/16/2003 Loan Approval Gross Amount $147,200 Loan Approval from the SBA Of the total $147,200 loan amount, the SBA guaranteed $125,120. 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 7 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $147,200 loan. Remember, anyone can do it... so why not you? 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: Banking Deregulation's Effects on Entrepreneurship Find an SBA Lender in Midland, Texas
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