Getting an SBA Loan for Support Activities for Oil and Gas Operations

With these commercial loans for support activities for oil and gas operations, the SBA guarantees the lender that the loan will be repaid. This support activities for oil and gas operations loan for $200,000 was given to a North Dakota entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with The Bank Of Tioga, out of Tioga, North Dakota. The loan was granted and they received $200,000 to help grow their Tioga, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: OIL AND GAS FIELD SERVICES
TIOGA, ND 58852

SBA Loan Lender

THE BANK OF TIOGA
7 N MAIN ST
TIOGA, ND 58852

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1389 - Oil and Gas Field Services

NAICS Code

213112 - Support Activities for Oil and Gas Operations

Loan Approval Date

6/16/2005

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 22 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Bank Of Tioga had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Bank Of Tioga 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:

Obtaining Funding - Getting Venture Capital

SBA 7A Lenders in Tioga, North Dakota

North Dakota SBA Banks