Raising Money for Petroleum and Petroleum Products Merchant Wholesalers
Looking for business loans for petroleum and petroleum products merchant wholesalers? The SBA may be the answer. This $65,000 petroleum and petroleum products merchant wholesalers loan was issued by a Texas bank.
Getting a small business loan in Lubbock, Texas was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from American State Bank, operating out of Lubbock, Texas. Here are the details on this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: PETROLEUM AND PETROLEUM PRODUCTS MERCHANT WHOLESALERS
LUBBOCK, TX 79404
SBA Loan Lender
AMERICAN STATE BANK
1401 AVE 'Q'
LUBBOCK, TX 79401
This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
424720 - Petroleum and Petroleum Products Merchant Wholesalers
Loan Approval Date
11/22/2005
Loan Approval Gross Amount
$65,000
Loan Approval from the SBA
Of the total $65,000 loan amount, the SBA guaranteed $32,500.
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 24 employees. The loan application indicated that the loan would help generate 1 new job and retain 25 existing jobs.
Getting an SBA Loan For Your Business
If you are wondering how to raise money for a business in Lubbock TX, you ought to talk with a local Lubbock SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lubbock businesses.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
How Equity Dilution Works
SBA Banks in Lubbock, Texas
Texas SBA Bank Lenders