Support Activities for Oil and Gas Operations SBA Loans

With these SBA loans for support activities for oil and gas operations, the SBA guarantees the lender that the loan will be repaid. This support activities for oil and gas operations loan for $300,000 was given to an Utah entrepreneur in 2007.

This small business knew how to go about getting a business bank loan. Based in Plymouth, Utah, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Bank Of Utah, based in Ogden, Utah.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR OIL AND GAS OPERATIONS
PLYMOUTH, UT 84330

SBA Loan Lender

BANK OF UTAH
2605 WASHINGTON BLVD
OGDEN, UT 84401

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

213112 - Support Activities for Oil and Gas Operations

Loan Approval Date

7/10/2007

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of Utah and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Small Business Banks in Ogden, Utah

Getting a Business Loan in Utah