How to Get a Loan for Electrical Contractors

Looking for business loans for electrical contractors? An SBA loan may be just what you've been looking for. This $330,000 electrical contractors loan was issued by a Rhode Island bank.

This small business knew how to go about getting a business bank loan. Based in East Providence, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Ups Capital Business Credit, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WORK
EAST PROVIDENCE, RI 02914

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
55 DORRANCE ST
PROVIDENCE, RI 02903

At the time this loan was granted, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program aims to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

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

2/8/2000

Loan Approval Gross Amount

$330,000

Loan Approval from the SBA

Of the total $330,000 loan amount, the SBA guaranteed $247,500.

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 26 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $330,000 loan. Remember, things become real when you believe you can achieve them!

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.

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