Where to Get Capital for Electrical Contractors

Looking for SBA loans for electrical contractors? Try the SBA. This $310,000 electrical contractors loan was issued by a Washington bank.

This small business knew how to go about getting a business bank loan. Based in Lynnwood, Washington, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Banner Bank, based in Bellevue, Washington.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS
LYNNWOOD, WA 98036

SBA Loan Lender

BANNER BANK
12443 BEL-RED RD
BELLEVUE, WA 98005

This commercial loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

2/7/2005

Loan Approval Gross Amount

$310,000

Loan Approval from the SBA

Of the total $310,000 loan amount, the SBA guaranteed $232,500.

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 37 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Banner 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:

Bank Credit Lines

SBA Approved Banks in Bellevue, Washington

Getting a Business Loan in Washington