How to Get a Loan for Electrical Apparatus, Equipment, Wiring Supplies and Construction Materials

With these business loans for electrical apparatus, equipment, wiring supplies and construction materials, the SBA guarantees the lender that the loan will be repaid. This electrical apparatus, equipment, wiring supplies and construction materials loan for $1,000,000 was given to an Alaska entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Anchorage, Alaska was able to borrow $1,000,000 from Alaska Growth Cap. Bidco Inc.. The SBA made the loan possible by guaranteeing $750,000 of this Alaska small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL APPARATUS, EQUIPMENT, WIRING SUPPLIES AND CONSTRUCTION MATERIALS
ANCHORAGE, AK 99507

SBA Loan Lender

ALASKA GROWTH CAP. BIDCO INC.
3900 C STREET, SUITE 302
ANCHORAGE, AK 99503

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421610 - Electrical Apparatus, Equipment, Wiring Supplies and Construction Materials

Loan Approval Date

7/15/2002

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 6 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

Accountant's Role in Securing Financing

SBA Banks in Anchorage, Alaska

SBA Lenders in Alaska