Borrower is seeking a USDA loan in the amount of $25,000,000 the purpose of purchasing 2 strings of fracking equipment at an estimated value of $17,675,000 and refinance $6,000,000 of existing debt. The Borrower will be providing services in the oil and gas industry by providing services for hydraulic fracturing and pumpdown. Having the flexibility to service both the oil and gas industry is significant as given the fluctuation of oil prices historically the company will be able to “tap” into the natural gas markets when oil goes through any kind of downturn in prices. An SBA loan will be funded by another lender but will close concurrent with this USDA loan. Financial analyses included this SBA loan due to the concurrent closing.

Loan ID 0179
DSCR 9.94
LTV 93
Note Rate 9.5
Property Location TX
NAICS 211130
Guaranty Type USDA
Loan Term 15 yrs
Rate type Var
Note date N/A
Maturity date N/A
Participation Availability Amount $0
Minimum Participation Amount $250,000
Original Loan Amount $25,000,000
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