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May 29, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Tyler, Business Loans > Citizens State Bank Tyler Business Loans > Oil And Gas Field Services Loan | ||||
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Whitehouse, Texas Bank Loan
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Loans for Support Activities for Oil and Gas OperationsLooking for loans for support activities for oil and gas operations? The SBA may be the answer. This $400,000 support activities for oil and gas operations loan was issued by a Texas bank. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Citizens State Bank, out of Tyler, Texas. The loan was granted and they received $400,000 to help grow their Whitehouse, Texas business. SBA Loan Borrower COMPANY TYPE: OIL AND GAS FIELD SERVICES SBA Loan Lender CITIZENS STATE BANK This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. 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 2/25/2002 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 only one employee. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:
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