Where to Get Capital for Electrical Contractors and Wiring Installation Contractors
Looking for small business loans for electrical contractors and wiring installation contractors? Try the SBA. This $10,000 electrical contractors and wiring installation contractors loan was issued by an Illinois bank.
This company knew how to go about getting a business bank loan. Based in Yorkville, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was National City Bank, based in Bannockburn, Illinois.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
YORKVILLE, IL 60560
SBA Loan Lender
NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015
The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
12/16/2003
Loan Approval Gross Amount
$10,000
Loan Approval from the SBA
Of the total $10,000 loan amount, the SBA guaranteed $5,000.
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 only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Direct Public Offerings
Good Banks for Small Business in Bannockburn, Illinois
Find an SBA Lender in Illinois