Electrical Contractors and Wiring Installation Contractors Small Business Loans

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 $750,000 electrical contractors and wiring installation contractors loan was issued by a California bank.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with National Bank Of California, out of Los Angeles, California. The loan was granted and they received $750,000 to help grow their Lomita, California business.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
LOMITA, CA 91331

SBA Loan Lender

NATIONAL BANK OF CALIFORNIA
145 S FAIRFAX AVE
LOS ANGELES, CA 90036

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

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

1/30/2004

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 50 employees. The loan application indicated that the borrowed money would help generate 50 new jobs.

Getting an SBA Loan For Your Business

If you need money to start business in Lomita CA, you ought to talk with a local Lomita SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lomita businesses.

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.

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