Drilling Oil and Gas Wells Small Business Loans

With these small business loans for drilling oil and gas wells, the SBA guarantees the lender that the loan will be repaid. This drilling oil and gas wells loan for $100,000 was given to a South Dakota entrepreneur in 2003.

Getting a small business loan in Rapid City, South Dakota was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Dakota National Bank, operating out of Yankton, South Dakota. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: DRILLING OIL AND GAS WELLS
RAPID CITY, SD 57702

SBA Loan Lender

FIRST DAKOTA NATIONAL BANK
225 CEDAR ST
YANKTON, SD 57078

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

213111 - Drilling Oil and Gas Wells

Loan Approval Date

3/5/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Dakota National Bank and they will explain how you can get an SBA loan for your company.

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

Banks in Yankton, South Dakota

SBA South Dakota Banks