Earlier this summer, the North Dakota Opportunity Fund approved a loan, in partnership with First National Bank and Trust Company of Williston, for Pronghorn Well Service, LLC.
Pronghorn Well Service is a start up venture that will service oil fields in western North Dakota. Owned by Ian and Tricia Anderson, the loan will help the company purchase a workover rig and other equipment.
Ian Anderson is an oilfield consultant who has worked in the oil business for 20 years. During the 2016 downturn, he managed a workover rig and came up with the idea to start a new business.
The North Dakota Opportunity Fund leverages private financing to help small businesses, like Pronghorn Well Service, attain loans and investments needed to expand and create jobs. Williston is part of a consortium of 38 municipalities across North Dakota that have received funding for operating the loan participation program.
Click here for more information about the North Dakota Opportunity Fund or contact Matt Burthold at firstname.lastname@example.org or (701) 667-7601.