Drilling Oil and Gas Wells SBA Loans

Looking for SBA loans for drilling oil and gas wells? Try the SBA. This $1,000,000 drilling oil and gas wells loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sheffield, Texas was able to borrow $1,000,000 from Transpecos Banks-Iraan. The SBA made the loan possible by guaranteeing $750,000 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: DRILLING OIL AND GAS WELLS
SHEFFIELD, TX 79781

SBA Loan Lender

TRANSPECOS BANKS-IRAAN
109 W 5TH ST
IRAAN, TX 79744

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

213111 - Drilling Oil and Gas Wells

Loan Approval Date

3/20/2003

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 23 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 15 existing jobs.

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

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Transpecos Banks-Iraan are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Business Line of Credit

SBA 7A Lenders in Iraan, Texas

Where to Get an SBA Loan Texas