Commercial Loans 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 $214,000 was given to a Texas entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Weatherford, Texas was able to borrow $214,000 from Wachovia Bank. The SBA made the loan possible by guaranteeing $160,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS
WEATHERFORD, TX 76087

SBA Loan Lender

WACHOVIA BANK
150 WESTPARK WAY, STE 130
EULESS, TX 76039

This lender provides SBA loans 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

7/6/2001

Loan Approval Gross Amount

$214,000

Loan Approval from the SBA

Of the total $214,000 loan amount, the SBA guaranteed $160,500.

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 38 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $214,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Obtaining Funding - How to Decide How Much to Raise

SBA 7A Banks in Euless, Texas

SBA Lenders in Texas