Bank Loans for Support Activities for Oil and Gas Operations
Looking for bank loans for support activities for oil and gas operations? An SBA loan may be just what you've been looking for. This $44,000 support activities for oil and gas operations loan was issued by an Oklahoma bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fort Smith, Arkansas was able to borrow $44,000 from First National Bank, Sallisaw. The SBA made the loan possible by guaranteeing $22,000 of this Arkansas small business loan.
SBA Loan Borrower
COMPANY TYPE: SUPPORT ACTIVITIES FOR OIL AND GAS OPERATIONS
FORT SMITH, AR 72918
SBA Loan Lender
FIRST NATIONAL BANK, SALLISAW
1720 E CHEROKEE
SALLISAW, OK 74955
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
213112 - Support Activities for Oil and Gas Operations
Loan Approval Date
6/23/2005
Loan Approval Gross Amount
$44,000
Loan Approval from the SBA
Of the total $44,000 loan amount, the SBA guaranteed $22,000.
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 11 employees. The SBA loan documents indicated that the borrowed money would help create 1 new job.
Getting an SBA Loan For Your Business
If you need business start up money in Fort Smith AR, you ought to talk with a local Fort Smith SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fort Smith businesses.
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.
Related Links:
Role of Business Plan When Raising Money
Good Banks for Small Business in Sallisaw, Oklahoma
SBA Participating Banks in Oklahoma