Bank Loans for Electrical Contractors and Wiring Installation Contractors

Looking for bank loans for electrical contractors and wiring installation contractors? Talk to a banker who works with the SBA. This $250,000 electrical contractors and wiring installation contractors loan was issued by a Pennsylvania bank.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Commerce Bank, out of Devon, Pennsylvania. The loan was granted and they received $250,000 to help grow their Newtown Square, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
NEWTOWN SQUARE, PA 19073

SBA Loan Lender

COMMERCE BANK
200 LANCASTER AVE
DEVON, PA 19333

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238210 - Electrical Contractors and Wiring Installation Contractors

Loan Approval Date

7/31/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 22 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, 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.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Commerce Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Understanding Dilution

Find an SBA Lender in Devon, Pennsylvania

Getting a Business Loan in Pennsylvania