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

Looking for business loans for electrical apparatus, equipment, wiring supplies and construction materials? The SBA may be the answer. This $25,000 electrical apparatus, equipment, wiring supplies and construction materials loan was issued by a Rhode Island bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $25,000 to help grow their Auburn, New York business.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL APPARATUS, EQUIPMENT, WIRING SUPPLIES AND CONSTRUCTION MATERIALS
AUBURN, NY 13021

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

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

Loan Approval Date

9/24/2001

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of America made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

A Company That Helps Entrepreneurs

Who Lends Money to Small Businesses in Providence, Rhode Island

Getting an SBA Loan in Rhode Island