Raising Money for Electrical Contractors and Wiring Installation Contractors
Looking for business loans for electrical contractors and wiring installation contractors? The SBA may be the answer. This $250,000 electrical contractors and wiring installation contractors loan was issued by a Texas bank.
This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with 1st National Bank - Baird, out of Baird, Texas. The loan was granted and they received $250,000 to help grow their Abilene, Texas business.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
ABILENE, TX 79602
SBA Loan Lender
1ST NATIONAL BANK - BAIRD
244 MARKET ST
BAIRD, TX 79504
This lender processed this small 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
1/3/2007
Loan Approval Gross Amount
$250,000
Loan Approval from the SBA
Of the total $250,000 loan amount, the SBA guaranteed $125,000.
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 49 employees. This SBA loan request indicated that the loan would help retain 49 existing jobs.
Getting an SBA Loan For Your Business
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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
Best Baird, Texas Banks for Small Business
Getting an SBA Loan in Texas