Loans for Support Activities for Oil and Gas Operations
Looking for 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 Minnesota bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cottage Grove, Minnesota was able to borrow $150,000 from Anchor Bank Saint Paul. The SBA made the loan possible by guaranteeing $112,500 of this Minnesota small business loan.
SBA Loan Borrower
COMPANY TYPE: OIL AND GAS FIELD SERVICES
COTTAGE GROVE, MN 55016
SBA Loan Lender
ANCHOR BANK SAINT PAUL
14665 GALAXIE AVE
APPLE VALLEY, MN 55124
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
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
8/2/2000
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 a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.
Getting an SBA Loan For Your 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.
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:
Equity Financing
Banks in Apple Valley, Minnesota
Minnesota SBA Bank Lenders