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November 15, 2024 |
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| Home > Small Business Lenders by State > Wyoming Business Loan Sources > Cheyenne, Business Loans > American National Bank Cheyenne Business Loans > Drilling Oil And Gas Wells Loan | ||||
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Moorcroft SBA Loans
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Wyoming SBA Loan Issued to Drilling Oil And Gas Wells CompanyBusiness loans in Wyoming are are few and far betweeen these days. We take a look at one Wyoming business loan, provided by a Wyoming bank, that was approved by the SBA. This small business, based in Moorcroft, Wyoming, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from American National Bank. We've got the inside scoop on this Wyoming small business loan. SBA Loan Borrower COMPANY TYPE: DRILLING OIL AND GAS WELLS SBA Loan Lender AMERICAN NATIONAL BANK This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 213111 - Drilling Oil and Gas Wells Loan Approval Date 11/18/2005 Loan Approval Gross Amount $128,600 Loan Approval from the SBA Of the total $128,600 loan amount, the SBA guaranteed $64,300. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 5 existing jobs. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into American National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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. Related Links: Advice on Getting a Small Business Loan Good Banks for Small Business in Cheyenne, Wyoming
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