How to Get a Loan for Electrical Contractors and Wiring Installation Contractors
Looking for commercial loans for electrical contractors and wiring installation contractors? Talk to a banker who works with the SBA. This $50,000 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 Bloomington, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Heartland Bank & Trust, based in Bloomington, Illinois.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
Bloomington, IL 61704
SBA Loan Lender
HEARTLAND BANK & TRUST
401 N HERSHEY RD
BLOOMINGTON, IL 61704
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
11/2/2007
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had no employees. The loan application indicated that the funding would help generate 4 new jobs.
Getting an SBA Loan For Your Business
Many small businesses receive loans backed by the U.S. Small Business Administration.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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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Small Bank Loans in Bloomington, Illinois
SBA Illinois Banks