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

Looking for business loans for electrical contractors and wiring installation contractors? Talk to a banker who works with the SBA. This $398,000 electrical contractors and wiring installation contractors loan was issued by a Minnesota bank.

This small business knew how to go about getting a business bank loan. Based in Savage, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Brickwell Community Bank, based in Woodbury, Minnesota.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
SAVAGE, MN 55378

SBA Loan Lender

BRICKWELL COMMUNITY BANK
525 COMMONS DR
WOODBURY, MN 55125

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank 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

1/10/2007

Loan Approval Gross Amount

$398,000

Loan Approval from the SBA

Of the total $398,000 loan amount, the SBA guaranteed $298,500.

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 10 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Brickwell Community 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:

Advice on Getting a Small Business Loan

SBA 7A Lenders in Woodbury, Minnesota

SBA Lenders in Minnesota