Firm Gets a Texas Business Loan

Would a Texas small business loan help your small business to grow and prosper? If so, you may want to talk with this Texas bank, which offers SBA loans to Texas entrepreneurs.

This small business, based in Midland, Texas, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Commercial State Bank. We've got the inside scoop on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: OIL AND GAS FIELD SERVICES
MIDLAND, TX 79705

SBA Loan Lender

COMMERCIAL STATE BANK
300 N 'A' ST
MIDLAND, TX 79701

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1389 - Oil and Gas Field Services

NAICS Code

213111 - Drilling Oil and Gas Wells

Loan Approval Date

3/1/2006

Loan Approval Gross Amount

$233,000

Loan Approval from the SBA

Of the total $233,000 loan amount, the SBA guaranteed $174,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Financing Your Business

Small Business Banks in Midland, Texas

Where to Get an SBA Loan Texas