Financing for Electrical Contractors and Wiring Installation Contractors

With these 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 $40,000 was given to a Maine entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Old Orchard Beach (town Of), Maine, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Bath Savings Institution, based in Bath, Maine.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
OLD ORCHARD BEACH (TOWN OF), ME 04064

SBA Loan Lender

BATH SAVINGS INSTITUTION
105 FRONT ST
BATH, ME 04530

The lender provided this small business loan 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

8/11/2005

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 6 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Old Orchard Beach (town Of) ME, you ought to talk with a local Old Orchard Beach (town Of) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Old Orchard Beach (town Of) businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bath Savings Institution and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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