Electrical Contractors Commercial Loans

With these commercial loans for electrical contractors, the SBA guarantees the lender that the loan will be repaid. This electrical contractors loan for $866,000 was given to a Florida entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Port Richey, Florida was able to borrow $866,000 from Wachovia Sba Lending, Inc.. The SBA made the loan possible by guaranteeing $649,500 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS
PORT RICHEY, FL 34668

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

10/5/2000

Loan Approval Gross Amount

$866,000

Loan Approval from the SBA

Of the total $866,000 loan amount, the SBA guaranteed $649,500.

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 25 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 25 existing jobs.

Next Steps for Getting an SBA Loan

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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