Raising Money for Electrical Contractors and Wiring Installation Contractors

Looking for bank loans for electrical contractors and wiring installation contractors? An SBA loan may be just what you've been looking for. This $50,000 electrical contractors and wiring installation contractors loan was issued by a Pennsylvania bank.

This small firm knew how to go about getting a business bank loan. Based in State College, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Nittany Bank, A Division Of, based in State College, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
STATE COLLEGE, PA 16803

SBA Loan Lender

NITTANY BANK, A DIVISION OF
116 E COLLEGE AVE
STATE COLLEGE, PA 16801

This lender processed this SBA 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

2/1/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 3 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Nittany Bank, A Division Of 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.

Related Links:

Obtaining Funding - Friends and Family

Who Lends Money to Small Businesses in State College, Pennsylvania

Getting an SBA Loan in Pennsylvania