Electrical Contractors and Wiring Installation Contractors Business Loans
Looking for business loans for electrical contractors and wiring installation contractors? The SBA may be the answer. This $20,800 electrical contractors and wiring installation contractors loan was issued by a Vermont bank.
This business knew how to go about getting a business bank loan. Based in Lyndonville, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Passumpsic Savings Bank, based in Saint Johnsbury, Vermont.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
LYNDONVILLE, VT 05851
SBA Loan Lender
PASSUMPSIC SAVINGS BANK
497 RAILROAD ST
SAINT JOHNSBURY, VT 05819
The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
12/22/2005
Loan Approval Gross Amount
$20,800
Loan Approval from the SBA
Of the total $20,800 loan amount, the SBA guaranteed $10,400.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
Don't apply for a loan directly with the SBA. You need to 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.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:
Business Line of Credit
Best Banks in Saint Johnsbury, Vermont
Browse All Business Loan Sources for Vermont