Drilling Oil and Gas Wells Loans

With these loans for drilling oil and gas wells, the SBA guarantees the lender that the loan will be repaid. This drilling oil and gas wells loan for $75,000 was given to a Texas entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mccamey, Texas was able to borrow $75,000 from Security State Bank. The SBA made the loan possible by guaranteeing $63,750 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: DRILLING OIL AND GAS WELLS
MCCAMEY, TX 79752

SBA Loan Lender

SECURITY STATE BANK
110 E 7TH ST
ODESSA, TX 79760

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

213111 - Drilling Oil and Gas Wells

Loan Approval Date

9/10/2002

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The SBA loan documents did not indicate that the company planned 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?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Small Business Loan

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SBA Participating Banks in Texas