Business financing in Crane County.

Business financing is money you borrow — or receive — to start, grow, or stabilize a business. It is not a one-size-fits-all product. The right financing depends on what you need the money for, how long you've been in business, your revenue, and your credit history.

Common types of business financing include:

• **Term loans** — A lump sum you repay over a fixed period, usually monthly. Good for buying equipment, vehicles, or real estate.

• **Lines of credit** — A flexible pool of money you draw from and repay as needed. Good for managing cash flow gaps.

• **SBA-guaranteed loans** — Loans made by a local lender but backed by the U.S. Small Business Administration. The guarantee reduces the lender's risk, which can mean better terms for you. The SBA is context here — your relationship is with the local lender.

• **Microloans** — Smaller loans (often under $50,000) offered by nonprofit lenders and CDFIs. Great for newer businesses or owners with limited credit history.

• **ITIN-based loans** — Some lenders and CDFIs accept an Individual Taxpayer Identification Number (ITIN) instead of a Social Security Number. This opens the door for immigrant entrepreneurs who may not yet have an SSN.

• **Equipment financing** — A loan or lease specifically tied to a piece of equipment, which often serves as the collateral.

In Crane County, the oil-field services sector, trucking, construction contracting, and small retail are the most common business types seeking financing. Knowing your industry helps you approach the right lender.

Crane County sits in the heart of the Permian Basin — one of the most active oil and gas regions in the United States. That energy economy creates real opportunities for local businesses, but it also means lenders are aware of the boom-and-bust cycles that come with it.

**Who this guide is especially for:**

• Oil-field service contractors (welders, pipe fitters, truckers, equipment operators)

• Independent construction subcontractors

• Small retail and food service owners in Crane, TX

• Real-estate investors buying rental properties in Crane County

• Immigrant entrepreneurs with an ITIN rather than an SSN

**What lenders typically look at:**

• Time in business — Most traditional lenders prefer at least 1–2 years. CDFIs and microloans are more flexible.

• Revenue and cash flow — Even if profits are modest, consistent deposits into a business bank account help.

• Credit score — Scores above 620 open more doors, but ITIN-friendly lenders and CDFIs will consider the full picture.

• Collateral — Equipment, vehicles, or real property in Crane County can serve as collateral.

• Industry stability — Lenders familiar with the Permian Basin understand seasonal and cyclical revenue patterns. Explain your business model clearly.

**A note for ITIN holders:** You do not need a Social Security Number to access financing in Texas. Several CDFIs and community lenders in the region specifically serve entrepreneurs with ITINs. Do not let anyone tell you otherwise.

Gathering your documents before you approach a lender saves time and shows that you are organized. Requirements vary by lender, but here is a solid baseline:

**Identity and Tax Documents**

• Government-issued photo ID (driver's license, passport, or consular ID/matrícula consular)

• Social Security Number **or** ITIN

• Last 2 years of personal tax returns (Form 1040)

• Last 2 years of business tax returns (if applicable — Schedule C, Form 1065, or Form 1120-S)

**Business Documents**

• Business license or DBA registration (Texas Secretary of State or Crane County Clerk)

• Articles of incorporation or LLC operating agreement (if applicable)

• Employer Identification Number (EIN) — free to obtain at IRS.gov

• 3–6 months of business bank statements

• 3–6 months of personal bank statements

**Financial Documents**

• Profit and loss statement (a simple income-minus-expenses summary is fine for small businesses)

• Balance sheet (assets and liabilities)

• Accounts receivable aging report (if you invoice clients)

**For Loan-Specific Purposes**

• Equipment quotes or invoices (for equipment financing)

• Purchase contract or appraisal (for real estate)

• Business plan or one-page project summary (often required by CDFIs and microloans)

**Tip:** If you file taxes as a sole proprietor or independent contractor, your Schedule C is your most important financial document. Keep it current.