Getting an SBA Loan for Support Activities for Oil and Gas Operations

Looking for business loans for support activities for oil and gas operations? Talk to a banker who works with the SBA. This $150,000 support activities for oil and gas operations loan was issued by a New Mexico bank.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Western Commerce Bank, out of Hobbs, New Mexico. The loan was granted and they received $150,000 to help grow their Tatum, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: OIL AND GAS FIELD SERVICES
TATUM, NM 88267

SBA Loan Lender

WESTERN COMMERCE BANK
1510 CALLE SUR
HOBBS, NM 88240

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1389 - Oil and Gas Field Services

NAICS Code

213112 - Support Activities for Oil and Gas Operations

Loan Approval Date

4/3/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new 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.

This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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 Business Loan

SBA Banks in Hobbs, New Mexico

SBA Participating Banks in New Mexico