Financing for Electrical Contractors and Wiring Installation Contractors
Looking for commercial loans for electrical contractors and wiring installation contractors? Try the SBA. This $25,000 electrical contractors and wiring installation contractors loan was issued by an Illinois bank.
This small business knew how to go about getting a business bank loan. Based in Belvidere, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was National City Bank, based in Bannockburn, Illinois.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
BELVIDERE, IL 61108
SBA Loan Lender
NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015
This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
238210 - Electrical Contractors and Wiring Installation Contractors
Loan Approval Date
5/15/2003
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.
Getting an SBA Loan For Your Business
Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like National City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
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SBA 7A Banks for Bannockburn, Illinois Loans
Illinois SBA Bank Lenders