Support Activities for Oil and Gas Operations Bank Loans

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 $1,966,438 support activities for oil and gas operations loan was issued by a New Mexico bank.

This company knew how to go about getting a business bank loan. Based in Hobbs, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Lea County State Bank, based in Hobbs, New Mexico.

SBA Loan Borrower

COMPANY TYPE: OIL AND GAS FIELD SERVICES
HOBBS, NM 88240

SBA Loan Lender

LEA COUNTY STATE BANK
1017 N TURNER
HOBBS, NM 88240

This small business loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA delivers a rapid loan approval or denial response.

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

9/29/2000

Loan Approval Gross Amount

$1,966,438

Loan Approval from the SBA

Of the total $1,966,438 loan amount, the SBA guaranteed $747,246.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 60 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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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