Where to Get Capital for Electrical Contractors

Looking for small business loans for electrical contractors? Talk to a banker who works with the SBA. This $675,000 electrical contractors loan was issued by a California bank.

This small firm knew how to go about getting a business bank loan. Based in Anaheim, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Bank - America California, based in Rancho Cordova, California.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WORK
ANAHEIM, CA 92806

SBA Loan Lender

BANK - AMERICA CALIFORNIA
10850 WHITE ROCK ROAD, STE 10
RANCHO CORDOVA, CA 95670

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1731 - Electrical Work

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

1/10/2000

Loan Approval Gross Amount

$675,000

Loan Approval from the SBA

Of the total $675,000 loan amount, the SBA guaranteed $506,250.

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 22 employees. The SBA loan application for the borrower indicated that the loan would help generate 22 new jobs and retain 22 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a business in Anaheim CA, you ought to talk with a local Anaheim SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Anaheim businesses.

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 Bank - America California 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:

Business Line of Credit

Small Business Banks in Rancho Cordova, California

Where to Get an SBA Loan California