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May 5, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Lubbock, Business Loans > American Bank Of Commerce Lubbock Business Loans > Drilling Oil And Gas Wells Loan | ||||
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How to Get a Small Business Loan in Brownfield, Texas
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American Bank Of Commerce Gives Business Loan to Drilling Oil And Gas Wells CompanyWant a Texas SBA loan? This Texas entrepreneur got an SBA loan, provided by a Texas bank that works with the SBA to help small business owners. Getting a small business loan in Brownfield, Texas was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of Commerce. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: DRILLING OIL AND GAS WELLS SBA Loan Lender AMERICAN BANK OF COMMERCE This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1381 - Drilling Oil and Gas Wells NAICS Code 213111 - Drilling Oil and Gas Wells Loan Approval Date 11/30/2000 Loan Approval Gross Amount $213,000 Loan Approval from the SBA Of the total $213,000 loan amount, the SBA guaranteed $159,750. 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 9 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $213,000 loan. Remember, things become real when you believe you can achieve them! 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: SBA Approved Banks in Lubbock, Texas
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