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May 9, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Coahoma, Business Loans > First Bank Of West Texas Coahoma Business Loans > Oil And Gas Field Machinery And Equipment Loan | ||||
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Coahoma, Texas Bank Loan
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Coahoma, Texas Entrepreneur Gets an SBA LoanTexasSmall business loans are available to Texas small business owners through the SBA. In this case, a Texas bank provides the loan. Getting a small business loan in Coahoma, Texas was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Bank Of West Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: OIL AND GAS FIELD MACHINERY AND EQUIPMENT SBA Loan Lender FIRST BANK OF WEST TEXAS The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3533 - Oil and Gas Field Machinery and Equipment NAICS Code 333132 - Oil and Gas Field Machinery and Equipment Manufacturing Loan Approval Date 8/27/2002 Loan Approval Gross Amount $1,610,700 Loan Approval from the SBA Of the total $1,610,700 loan amount, the SBA guaranteed $727,070. 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 39 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add 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. 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 First Bank Of West Texas 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: Good Banks for Small Business in Coahoma, Texas
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