Dallas quickly became the financial center for the oil industry in Texas and Oklahoma. In the first months of 1931, 28 petroleum-related businesses either moved to or formed in Dallas. Banks made loans to develop the oil fields, and Dallas became the financial center for all oil fields in the Texas Panhandle, the Permian Basin, East Texas, Gulf Coast, and Oklahoma.
Dallas rapidly became a key financial focal point for the oil sector in Texas and Oklahoma. In early 1931, twenty-eight petroleum-related enterprises either relocated to or established themselves in Dallas. Financial institutions provided loans to develop oil fields, thereby establishing Dallas as the central financial center for all major oil regions such as the Texas Panhandle, Permian Basin, East Texas, Gulf Coast, and Oklahoma.