Borrowing Money for Drilling Oil and Gas Wells

With these loans for drilling oil and gas wells, the SBA guarantees the lender that the loan will be repaid. This drilling oil and gas wells loan for $625,000 was given to a North Dakota entrepreneur in 2004.

Getting a small business loan in Belfield, North Dakota was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Great Plains National Bank, operating out of Dickinson, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: DRILLING OIL AND GAS WELLS
BELFIELD, ND 58622

SBA Loan Lender

GREAT PLAINS NATIONAL BANK
323 18TH ST WEST
DICKINSON, ND 58602

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1381 - Drilling Oil and Gas Wells

NAICS Code

213111 - Drilling Oil and Gas Wells

Loan Approval Date

2/11/2004

Loan Approval Gross Amount

$625,000

Loan Approval from the SBA

Of the total $625,000 loan amount, the SBA guaranteed $468,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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Alternative Financing

SBA Banks in Dickinson, North Dakota

SBA Lenders in North Dakota