What is the SBA loan default rate for Drilling Oil and Gas Wells?

At 11.9%, Drilling Oil and Gas Wells sits below the 15.4% all industry SBA default rate (charged off as a share of resolved loans), moderate default risk relative to other SBA industries. The rate is measured on the resolved loans (paid in full or charged off), loans that have reached a final outcome. 161 lenders actively fund this industry.

Which SBA program is best for Drilling Oil and Gas Wells?

The SBA 7(a) program is the most commonly used for Drilling Oil and Gas Wells businesses, accounting for the majority of approved loans. The SBA 504 program is popular for larger real estate and equipment purchases.

NAICS 213111Mining, Oil & GasLending Growing

How Much Can Drilling Oil and Gas Wells Businesses Get in SBA Loans?

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Address: Westfield, Westfield, IN, 46074, US
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379 SBA loans totaling $163.8M have been approved for drilling oil and gas wells businesses (NAICS 213111). The average approved SBA loan is $432K, which is 27% above avg the $340K national average. 161 active lenders fund this industry with a 11.9% default rate on the matured 2018-2021 loan cohort.

Moderate default risk11.9% vs 15.4% all industry avg

At 11.9%, Drilling Oil and Gas Wells sits below the 15.4% all industry SBA default rate (charged off as a share of resolved loans), moderate default risk relative to other SBA industries. The capital source prices this risk into rate and structure.

Quick Answer

NAICS 213111 (Drilling Oil and Gas Wells) received 379 SBA loans worth $163.8M across 5+ states. Average loan $432K, average term 94 months, 11.9% default rate (resolved loan basis).161 active SBA approved lenders fund this industry. Most drilling oil and gas wells loans use the SBA 7(a) program. There are approximately 2,008 U.S. establishments in this industry (Census 2022).

379

Total SBA Loans

$163.8M

Total Volume

$432K

Avg Loan Size

27% above avg

161

Active Lenders

94 mo

Avg Term

28% below avg

4,965

Jobs Supported

Is SBA Lending Growing for Drilling Oil and Gas Wells?+260% growth

$226K

$9.5M

$11.2M

$5.3M

$4.6M

$10.5M

$6.4M

$1.8M

$4.3M

$22.8M

Which SBA Program Do Drilling Oil and Gas Wells Businesses Use Most?

SBA 7(a)363 (96%)

SBA 50416 (4%)

What Is the Best SBA Loan for Drilling Oil and Gas Wells?

SBA 7(a)

The most widely used SBA program for drilling oil and gas wells businesses: flexible terms, multiple use cases

Industry avg loan: $432K

Typical term: 94 months

Historical avg rate: 6.80%

161+ lenders active in this industry

Default rate (2018 to 21 matured cohort): 11.9%

Where Are Drilling Oil and Gas Wells SBA Loans Most Common?

94 loans

$58.2M

29 loans

$11.5M

25 loans

$9.4M

20 loans

$7.8M

19 loans

$1.8M

SBA Lending Activity in Drilling Oil and Gas Wells

161 SBA lenders have funded 379 loans to drilling oil and gas wells businesses (NAICS 213111). Which lender approves your deal depends on your location, loan size, credit profile and time in business, not on who funded someone else. PeerSense makes the introduction.

Loans funded

379

Active lenders

161

Total volume

$163.8M

Avg loan size

$432K

Browse all SBA lenders

Drilling Oil and Gas Wells Industry Context

U.S. Establishments

2,008

U.S. Census Bureau · 2022

SBA Penetration

18.87%

SBA loans per establishment

Talk to PeerSense

PeerSense sources capital for drilling oil and gas wells businesses. The capital source sets the terms. No upfront fee. Talk to PeerSense. Referral fee at closing.

Retainers

10%

Down with SBA 7(a)

25yr

Terms Available

Talk to PeerSense (317) 452-6990

Talk to PeerSense about financing a Drilling Oil and Gas Wells business.

Tell us your loan amount and use of funds. PeerSense sources capital. The capital source sets the terms.

SBA 7(a) / 504: PeerSense will reach out. No obligation.

How big is your deal?

Where are you in the deal?

Equity or down payment ready

Credit score

Timeline to close

SBA already on the books?

What best describes your company

Liquid funds available outside this deal

Where is the property or business

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How Does SBA Lending Work for Drilling Oil and Gas Wells Businesses?

Across all SBA loan programs, 379 loans have been approved for businesses classified under NAICS 213111 (Drilling Oil and Gas Wells), representing $163.8M in total capital deployed. The average approved loan of $432K is 27% above avg the national SBA average of $340K, with typical repayment terms of 94 months.

SBA lending for drilling oil and gas wells is accelerating. Loan volume has grown approximately 260% over recent fiscal years. This upward trajectory suggests expanding access to capital and growing lender confidence in this sector. Peak activity occurred in FY2017.

The overwhelming majority of SBA lending for drilling oil and gas wells uses the 7(a) program, which provides the most flexibility, covering working capital, equipment purchases, partner buyouts, debt refinancing, and business acquisitions up to $5M with terms up to 25 years.

Talk to PeerSense about a drilling oil and gas wells file. The capital source sets the terms. The desk fee is paid at closing, never upfront.

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Frequently Asked Questions: Drilling Oil and Gas Wells SBA Loans

What is the average SBA loan size for drilling oil and gas wells businesses?

Based on 379 approved SBA loans, the average loan size for drilling oil and gas wells (NAICS 213111) is $432K. This compares to the national SBA average of $340K across all industries.

Which SBA loan program is best for a drilling oil and gas wells business?

SBA 7(a) is the most commonly used SBA program for drilling oil and gas wells businesses. The most widely used SBA program for drilling oil and gas wells businesses: flexible terms, multiple use cases. PeerSense can analyze your specific deal to determine the optimal program.

How many lenders fund SBA loans for drilling oil and gas wells?

161 different SBA approved lenders have funded loans in this industry. Not all lenders are equally active in every industry. Talk to PeerSense. The capital source sets the terms for a drilling oil and gas wells file.

What states have the most SBA lending for drilling oil and gas wells?

TX leads with 94 SBA loans and $58.2M in total volume for drilling oil and gas wells businesses. WY, OK, CA also show strong lending activity in this sector.

How does PeerSense help drilling oil and gas wells businesses get SBA loans?

PeerSense is a capital advisory firm. Talk to PeerSense about a drilling oil and gas wells file. The capital source sets the terms. No upfront fee. The desk is paid at closing.

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Data aggregated from SBA loan records (1992 to 2025). Drilling Oil and Gas Wells defined by NAICS code 213111. Not financial advice. PeerSense sources capital through a curated network of commercial lenders and capital sources. Consult a lending professional before making financial decisions.