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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > South Houston, Business Loans > 1st Choice Bank South Houston Business Loans > Oil And Gas Field Machinery And Equipment Manufacturing Loan | ||||
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Business Loans for Pasadena Entrepreneurs
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Raising Money for Oil and Gas Field Machinery and Equipment ManufacturingLooking for bank loans for oil and gas field machinery and equipment manufacturing? Talk to a banker who works with the SBA. This $417,000 oil and gas field machinery and equipment manufacturing loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pasadena, Texas was able to borrow $417,000 from 1st Choice Bank. The SBA made the loan possible by guaranteeing $312,750 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: OIL AND GAS FIELD MACHINERY AND EQUIPMENT MANUFACTURING SBA Loan Lender 1ST CHOICE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333132 - Oil and Gas Field Machinery and Equipment Manufacturing Loan Approval Date 2/26/2007 Loan Approval Gross Amount $417,000 Loan Approval from the SBA Of the total $417,000 loan amount, the SBA guaranteed $312,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 35 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $417,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Bank Loans in South Houston, Texas Getting a Business Loan in Texas
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