Thomas Financial Group Supports Job Growth with SBA Loan

Author: Ryan Hughes Updated: 03-10-2025 10:18 AM

Thomas Financial Group Boosts Economic Development

Recently, Thomas Financial Group Inc. successfully closed a $1.291 million SBA 7(a) loan for Petroleum Equipment & Services, Inc. (PESI). This strategic financial support is set to enhance job opportunities and stimulate economic growth in the region.

Funding Aims to Create Jobs

The loan, which is expected to save or create over 30 jobs, is a significant step in fortifying PESI's operations within the oilfield services sector. PESI has established itself as a critical player in Alaska's energy infrastructure, showcasing the importance of such financing.

PESI's Contribution to Energy Infrastructure

Founded in 1983, PESI has gained recognition for delivering cutting-edge solutions to oil companies and drilling contractors. By providing essential logistical support and equipment for operations in Alaska's energy hubs, PESI plays a pivotal role in the region's economic landscape.

Investment in Local Industries

Chris Banks, Interim President of Thomas Financial Group, emphasized that this loan is more than a financial transaction—it's an investment in the community's future. By enabling PESI's expansion, the group not only supports job creation but also ensures that the necessary resources for vital oil and gas projects are available.

Building on Previous Success

This marks the second SBA 7(a) loan facilitated by Thomas Financial Group for PESI. Following a successful $3.709 million loan undertaken in late 2024 and an $8.23 million USDA B&I loan, this funding continues to strengthen PESI's capacity to innovate and grow.

Broader Economic Impact

The economic impact of this latest loan reaches far beyond PESI. It facilitates a network of local suppliers and contractors, benefiting the broader community. By creating high-paying jobs and opportunities for career advancement, PESI's growth contributes to a resilient workforce.

Supporting Small Businesses

The SBA 7(a) loan program is crucial for small business development, allowing firms to invest in growth and improvements. PESI's successful acquisition of this funding highlights its solid financial base and commitment to fostering economic progress in the state.

About Thomas Financial Group

Based in Atlanta, Georgia, Thomas Financial Group specializes in providing commercial lending solutions and is committed to empowering businesses. As a subsidiary of Community Bankshares Inc., the company is dedicated to promoting economic development through effective lending programs.

About Community Bankshares, Inc.

Community Bankshares, Inc. is transforming the financial services landscape in America, focusing on fostering business stability and promoting local growth. Through its subsidiaries, it offers a wide range of financial services that enhance economic vibrancy.

Frequently Asked Questions

What is the primary purpose of the loan from Thomas Financial Group?

The loan aims to create or save over 30 jobs and support PESI's expansion efforts in local industries.

How does PESI contribute to Alaska's economy?

PESI provides critical logistical support and innovative solutions to oilfield services in Alaska, contributing to the energy sector.

What is the significance of the SBA 7(a) loan for small businesses?

This loan program offers favorable financing terms that enable small businesses to invest in growth and operational enhancements.

How has Thomas Financial Group supported PESI previously?

The group has facilitated multiple loans for PESI, enhancing its ability to innovate and expand within the market.

What role does Community Bankshares, Inc. play in this loan?

Community Bankshares, Inc. supports Thomas Financial Group and its mission to provide financing solutions that promote economic growth.

About The Author

Hello, my name is Ryan Hughes. I am a financial, economics, and stock market specialist committed to assisting people in negotiating the intricacies of the financial system. Having a great deal of experience and a thorough grasp of market dynamics and economic trends, my area of expertise is converting complex financial ideas into understandable, practical knowledge. By use of my articles and blog entries, I hope to give you the information and assurance you need to make wise financial choices.

I've had the honor of interacting with a wide range of readers as a writer for several financial blogs, from new investors to seasoned market participants. To enable you to reach your financial goals, I want to make finance, economics, and stock market trends understandable and approachable. I appreciate you traveling with me toward success and financial literacy.

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