Raising Money for Electrical Contractors

Looking for bank loans for electrical contractors? The SBA may be the answer. This $155,000 electrical contractors loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Homer, New York was able to borrow $155,000 from Tompkins Trust Company. The SBA made the loan possible by guaranteeing $116,250 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS
HOMER, NY 13077

SBA Loan Lender

TOMPKINS TRUST COMPANY
110 N TIOGA ST, THE COMMONS
ITHACA, NY 14850

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

2/27/2004

Loan Approval Gross Amount

$155,000

Loan Approval from the SBA

Of the total $155,000 loan amount, the SBA guaranteed $116,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

We've showcased information on this loan to let you know that businesses like yours 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.

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