On June 3, 1995, at 1600 central daylight time, a Schweizer G-164B, N7501P, was substantially damaged during takeoff near Collegeport, Texas. The airline transport rated pilot was not injured. The aircraft was being operated by Fehmel Planes, Inc., under Title 14 CFR Part 137. Visual meteorological conditions prevailed for the local aerial application flight and a flight plan was not filed. During a personal interview, conducted by a Federal Aviation Administration (FAA) inspector, the pilot stated that the airplane was loaded with fertilizer and refueled at an 1,800 foot airstrip. He further stated that during the takeoff roll, the soft, wet ground prevented the "overloaded" airplane from attaining takeoff airspeed. The airplane overran the end of the runway impacting bushes and small trees before coming to rest in the inverted position.