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

Looking for SBA loans for electrical contractors and wiring installation contractors? The SBA may be the answer. This $350,000 electrical contractors and wiring installation contractors loan was issued by a Mississippi bank.

This small business knew how to go about getting a business bank loan. Based in Meridian, Mississippi, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Bankplus, based in Belzoni, Mississippi.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
MERIDIAN, MS 39305

SBA Loan Lender

BANKPLUS
202 JACKSON
BELZONI, MS 39038

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 small business 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

11/28/2007

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 14 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bankplus and they will explain how you can get an SBA loan for your company.

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:

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SBA 7A Banks for Belzoni, Mississippi Loans

Mississippi SBA 7A Banks