Get an SBA Loan for Electrical Contractors and Wiring Installation Contractors

Looking for small business loans for electrical contractors and wiring installation contractors? An SBA loan may be just what you've been looking for. This $75,000 electrical contractors and wiring installation contractors loan was issued by a Minnesota bank.

Getting a small business loan in St. Charles, Minnesota was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Merchants Bank, operating out of Hampton, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
ST. CHARLES, MN 55972

SBA Loan Lender

MERCHANTS BANK
23280 MAIN ST
HAMPTON, MN 55031

This lender processed this 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

2/23/2004

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in St. Charles MN, you ought to talk with a local St. Charles SBA lender or talk with an out-of-area SBA lender that has previously loaned money to St. Charles businesses.

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

Related Links:

Realistic Debt Financing Options

Find an SBA Lender in Hampton, Minnesota

Browse All Business Loan Sources for Minnesota