Southern Oilfield Inspections LLC
Southern Oilfield Inspections LLC is a business in Laurel, Mississippi, in the support activities for oil and gas operations industry (NAICS 213112). The company was financed with an SBA 7(a) loan for a change of ownership of $2 million, approved on May 22, 2025 by The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved May 22, 2025
$2,000,000 approvedLender: The Huntington National Bank138 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $2,000,000
- SBA-guaranteed amount
- $1,500,000 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 11 years, 6 months (138 months)
- Estimated maturity
- November 22, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $24,443 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 11, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 213112, Support Activities for Oil and Gas Operations
- Project location
- Jones County, MS
- SBA district office
- Mississippi District Office
- Congressional district
- MS-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Support Activities for Oil and Gas Operations: $2,412,200.
- Average acquisition loan in Mississippi: $1,688,600.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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