Great Plains National Bank Gives Bank Loan to Oil And Gas Field Exploration Services Company

Looking to get a North Dakota business loan? This North Dakota entrepreneur got a business loan, provided by a North Dakota bank that works with the SBA to help small business owners.

This small business, based in South Heart, North Dakota, 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 Great Plains National Bank. We've got the inside scoop on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: OIL AND GAS FIELD EXPLORATION SERVICES
SOUTH HEART, ND 58655

SBA Loan Lender

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

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1382 - Oil and Gas Field Exploration Services

NAICS Code

213112 - Support Activities for Oil and Gas Operations

Loan Approval Date

8/1/2003

Loan Approval Gross Amount

$652,500

Loan Approval from the SBA

Of the total $652,500 loan amount, the SBA guaranteed $489,375.

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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in South Heart or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

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Getting an SBA Loan in North Dakota