Loans for Oil and Gas Field Machinery and Equipment Manufacturing

Looking for loans for oil and gas field machinery and equipment manufacturing? The SBA may be the answer. This $222,200 oil and gas field machinery and equipment manufacturing loan was issued by a Texas bank.

This company knew how to go about getting a business bank loan. Based in Odessa, Texas, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Southwest Bank, based in Odessa, Texas.

SBA Loan Borrower

COMPANY TYPE: OIL AND GAS FIELD MACHINERY AND EQUIPMENT
ODESSA, TX 79760

SBA Loan Lender

SOUTHWEST BANK
4800 E 42ND ST
ODESSA, TX 79762

This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and a thorough understanding of SBA policies and procedures.

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

5/3/2004

Loan Approval Gross Amount

$222,200

Loan Approval from the SBA

Of the total $222,200 loan amount, the SBA guaranteed $166,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 30 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Determining Proper Capital Structure for a Business

Find an SBA Lender in Odessa, Texas

Getting an SBA Loan in Texas