Getting an SBA Loan for Electrical Contractors
With these commercial loans for electrical contractors, the SBA guarantees the lender that the loan will be repaid. This electrical contractors loan for $65,000 was given to a California entrepreneur in 2000.
This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Wells Fargo Bank, out of San Jose, California. The loan was granted and they received $65,000 to help grow their Los Angeles, California business.
SBA Loan Borrower
COMPANY TYPE: ELECTRIC AND OTHER SERVICES COMBINED
LOS ANGELES, CA 90061
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
4931 - Electric and Other Services Combined
NAICS Code
235310 - Electrical Contractors
Loan Approval Date
10/12/2000
Loan Approval Gross Amount
$65,000
Loan Approval from the SBA
Of the total $65,000 loan amount, the SBA guaranteed $52,000.
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. The SBA loan application for the borrower indicated that the loan would help create 3 new jobs.
Start the Process for Getting an SBA Loan Today!
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
Financing Your Business
SBA Participating Banks in San Jose, California
California SBA Banks