Wyoming Bank Loan Issued to Drilling Oil And Gas Wells Company

Would a Wyoming small business loan help your small business to grow and prosper? If so, you may want to talk with this Wyoming bank, which offers SBA loans to Wyoming entrepreneurs.

This business, based in Sheridan, 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 Sheridan State Bank. We've got the inside scoop on this Wyoming small business loan.

SBA Loan Borrower

COMPANY TYPE: DRILLING OIL AND GAS WELLS
SHERIDAN, WY 82801

SBA Loan Lender

SHERIDAN STATE BANK
424 N MAIN ST
SHERIDAN, WY 82801

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

5/25/2005

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 13 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Sheridan State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Sheridan State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Small Business Loan

SBA Participating Banks in Sheridan, Wyoming

SBA Lenders in Wyoming