1st Choice Bank Gives SBA Loan to Oil And Gas Field Machinery And Equipment Manufacturing Company

Would a Texas SBA loan help your business get to the next level? If so, you may want to talk with this Texas bank, which offers SBA loans to Texas entrepreneurs.

By giving the right information to 1st Choice Bank, this Pasadena, Texas business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: OIL AND GAS FIELD MACHINERY AND EQUIPMENT MANUFACTURING
PASADENA, TX 77505

SBA Loan Lender

1ST CHOICE BANK
3100 S SHAVER
SOUTH HOUSTON, TX 77587

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to to our country's hard-working small business owners.

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

$971,000

Loan Approval from the SBA

Of the total $971,000 loan amount, the SBA guaranteed $728,250.

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 SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours 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:

Alternative Financing

SBA 7A Banks for South Houston, Texas Loans

Getting a Business Loan in Texas