Small Business Loans for Electrical Contractors

Looking for small business loans for electrical contractors? An SBA loan may be just what you've been looking for. This $1,227,500 electrical contractors loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in El Segundo, California was able to borrow $1,227,500 from Alliance Bank. The SBA made the loan possible by guaranteeing $920,625 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS
EL SEGUNDO, CA 90245

SBA Loan Lender

ALLIANCE BANK
100 CORPORATE POINTE
CULVER CITY, CA 90230

This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

235310 - Electrical Contractors

Loan Approval Date

3/19/2002

Loan Approval Gross Amount

$1,227,500

Loan Approval from the SBA

Of the total $1,227,500 loan amount, the SBA guaranteed $920,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 24 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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