How to Get a Loan for Electrical Contractors and Wiring Installation Contractors

With these SBA loans for electrical contractors and wiring installation contractors, the SBA guarantees the lender that the loan will be repaid. This electrical contractors and wiring installation contractors loan for $100,000 was given to a Texas entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Nevada, Texas was able to borrow $100,000 from First United Bank & Trust. The SBA made the loan possible by guaranteeing $50,000 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
NEVADA, TX 75173

SBA Loan Lender

FIRST UNITED BANK & TRUST
1400 W MAIN ST
DURANT, OK 74701

This lender processed this small 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

10/18/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 55 employees. This SBA loan request indicated that the loan would help generate 15 new jobs and retain 55 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First United Bank & Trust 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.

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