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May 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Odessa, Business Loans > Southwest Bank Odessa Business Loans > Oil And Gas Field Machinery And Equipment Manufacturing Loan | ||||
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How to Get SBA Loans in Midland, Texas
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Getting an SBA Loan for Oil and Gas Field Machinery and Equipment ManufacturingWith these SBA loans for oil and gas field machinery and equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This oil and gas field machinery and equipment manufacturing loan for $400,000 was given to a Texas entrepreneur in 2004. Getting a small business loan in Midland, Texas was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Southwest Bank, operating out of Odessa, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: OIL AND GAS FIELD MACHINERY AND EQUIPMENT MANUFACTURING SBA Loan Lender SOUTHWEST BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333132 - Oil and Gas Field Machinery and Equipment Manufacturing Loan Approval Date 12/6/2004 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Obtaining Funding From a Venture Capitalist
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