Preferred Capital Bidco, Inc. Gives Small Business Loan to Oil And Gas Field Services Company

DelawareBusiness loans are available to Delaware business owners through the SBA. In this case, a Delaware bank provides the loan.

This small business, based in Wilmington, Delaware, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Preferred Capital Bidco, Inc.. We've got the inside scoop on this Delaware small business loan.

SBA Loan Borrower

COMPANY TYPE: OIL AND GAS FIELD SERVICES
WILMINGTON, DE 19801

SBA Loan Lender

PREFERRED CAPITAL BIDCO, INC.
300 DELAWARE AVENUE, SUITE 13
WILMINGTON, DE 19801

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1389 - Oil and Gas Field Services

NAICS Code

235990 - Special Trade Contractors

Loan Approval Date

3/23/2001

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

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 35 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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:

SBIR Funding

SBA 7A Banks in Wilmington, Delaware

Browse All Business Loan Sources for Delaware