Commercial Loans 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 $744,500 was given to a North Dakota entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Williston, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was First National Bank & Trust - Willis, based in Williston, North Dakota.

SBA Loan Borrower

COMPANY TYPE: OIL AND GAS FIELD EXPLORATION SERVICES
WILLISTON, ND 58801

SBA Loan Lender

FIRST NATIONAL BANK & TRUST - WILLIS
22 E 4TH ST
WILLISTON, ND 58801

This business 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

1382 - Oil and Gas Field Exploration Services

NAICS Code

213112 - Support Activities for Oil and Gas Operations

Loan Approval Date

10/17/2006

Loan Approval Gross Amount

$744,500

Loan Approval from the SBA

Of the total $744,500 loan amount, the SBA guaranteed $558,375.

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 4 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

The Art of Bootstrapping

SBA 7A Banks in Williston, North Dakota

SBA Lenders in North Dakota