Get an SBA Loan for Oil and Gas Field Machinery and Equipment Manufacturing

With these small business loans for oil and gas field machinery and equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This oil and gas field machinery and equipment manufacturing loan for $362,000 was given to a Texas entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Odessa, Texas was able to borrow $362,000 from West Texas State Bank. The SBA made the loan possible by guaranteeing $271,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: OIL AND GAS FIELD MACHINERY AND EQUIPMENT
ODESSA, TX 79764

SBA Loan Lender

WEST TEXAS STATE BANK
1501 W UNIVERSITY
ODESSA, TX 79760

This SBA loan 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

3533 - Oil and Gas Field Machinery and Equipment

NAICS Code

333132 - Oil and Gas Field Machinery and Equipment Manufacturing

Loan Approval Date

3/14/2002

Loan Approval Gross Amount

$362,000

Loan Approval from the SBA

Of the total $362,000 loan amount, the SBA guaranteed $271,500.

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 22 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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.

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:

Find Start-Up Capital

SBA 7A Lenders in Odessa, Texas

SBA Texas Lenders