Support Activities for Oil and Gas Operations Bank Loans

With these bank 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 $350,000 was given to a Texas entrepreneur in 2006.

Getting a small business loan in Clute (corporate Name For Clut, Texas was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Texas First Bank Santa Fe, operating out of Santa Fe, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR OIL AND GAS OPERATIONS
CLUTE (CORPORATE NAME FOR CLUT, TX 77531

SBA Loan Lender

TEXAS FIRST BANK SANTA FE
12402 HWY 6
SANTA FE, TX 77510

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

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

7/28/2006

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 55 employees. The SBA loan documents indicated that the loan would help retain 55 existing jobs.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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