Crude Petroleum and Natural Gas Commercial Loans

With these commercial loans for crude petroleum and natural gas, the SBA guarantees the lender that the loan will be repaid. This crude petroleum and natural gas loan for $514,067 was given to an Oklahoma entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Perry, Oklahoma, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Exchange Bank & Trust, based in Perry, Oklahoma.

SBA Loan Borrower

COMPANY TYPE: CRUDE PETROLEUM AND NATURAL GAS
PERRY, OK 73077

SBA Loan Lender

EXCHANGE BANK & TRUST
6TH & DELAWARE
PERRY, OK 73077

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

211111 - Crude Petroleum and Natural Gas

Loan Approval Date

3/30/2006

Loan Approval Gross Amount

$514,067

Loan Approval from the SBA

Of the total $514,067 loan amount, the SBA guaranteed $385,550.

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 10 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Exchange Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Exchange Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

A Company That Helps Entrepreneurs

SBA 7A Banks in Perry, Oklahoma

Getting an SBA Loan in Oklahoma