Commercial Loans for Electrical Apparatus, Equipment, Wiring Supplies and Construction Materials

With these commercial 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 $652,000 was given to a Georgia entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Citizens First Bank, out of Rome, Georgia. The loan was granted and they received $652,000 to help grow their Calhoun, Georgia business.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL APPARATUS, EQUIPMENT, WIRING SUPPLIES AND CONSTRUCTION MATERIALS
CALHOUN, GA 30703

SBA Loan Lender

CITIZENS FIRST BANK
701 BROAD ST
ROME, GA 30161

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

2/22/2002

Loan Approval Gross Amount

$652,000

Loan Approval from the SBA

Of the total $652,000 loan amount, the SBA guaranteed $489,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find business people willing to loan money, 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:

Realistic Debt Financing Options

Small Bank Loans in Rome, Georgia

Getting an SBA Loan in Georgia