Bank Loans for Electrical Contractors

With these bank loans for electrical contractors, the SBA guarantees the lender that the loan will be repaid. This electrical contractors loan for $101,200 was given to a North Carolina entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in Emerald Isle, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Wachovia Bank, based in Winston Salem, North Carolina.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS
EMERALD ISLE, NC 28594

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

235310 - Electrical Contractors

Loan Approval Date

10/13/2000

Loan Approval Gross Amount

$101,200

Loan Approval from the SBA

Of the total $101,200 loan amount, the SBA guaranteed $50,600.

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 22 employees. The SBA loan documents indicated that the loan would help retain 22 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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