SBA loans for electrical contractor businesses
Source: U.S. Small Business Administration, 7(a) & 504 FOIA loan data [source] · File as of September 30, 2026 · Loans approved in federal fiscal years 2024–2026 (Oct 2023 – Sept 2026) · Imported November 4, 2026
Electrical Contractors and Other Wiring Installation Contractors (NAICS 238210)
2,249loans approved
$150,000median loan
$50K–$350Kmiddle half of loans
$883.1Mtotal approved
11%median initial rate
10 yrsmedian term
Borrowers reported 21,908 jobs created or retained.
3.6% of these loans went to franchise locations.
Loan sizes
States with the most loans
| State | Loans | Median |
|---|---|---|
| California | 298 | $150,000 |
| Florida | 155 | $182,700 |
| New York | 150 | $132,500 |
| Texas | 119 | $150,000 |
| Ohio | 92 | $100,000 |
| Massachusetts | 90 | $100,000 |
| Colorado | 82 | $225,000 |
| Washington | 81 | $62,400 |
| New Jersey | 75 | $147,000 |
| Michigan | 71 | $100,000 |
Most active lenders
| Lender | Loans | Median | Total |
|---|---|---|---|
| U.S. Bank, National Association | 189 | $45,000 | $20.9M |
| The Huntington National Bank | 182 | $140,000 | $54.1M |
| TD Bank, National Association | 144 | $75,000 | $13.8M |
| JPMorgan Chase Bank, National Association | 141 | $200,000 | $40.2M |
| Manufacturers and Traders Trust Company | 106 | $52,500 | $12.6M |
| Northeast Bank | 81 | $150,000 | $12.8M |
| Newtek Bank, National Association | 77 | $200,000 | $31.8M |
| Readycap Lending, LLC | 65 | $150,000 | $18.9M |
| Bayfirst National Bank | 64 | $150,000 | $8.9M |
| Wells Fargo Bank National Association | 55 | $20,000 | $14.7M |
Planning one? Read how to start a electrical contractor business and model payments with the loan calculator.
What this data does — and doesn't — tell you
- Approvals, not applications. These are loans SBA approved. The data has no denials, so it cannot tell you your odds of approval.
- Loan size is not startup cost. 7(a) loans also pay for buying existing businesses, real estate, equipment, refinancing and working capital.
- Gross approval amount. Figures are the full approved loan, including the part SBA does not guarantee. Some approved loans are later reduced or never fully disbursed.
- Industry codes are assigned at approval (NAICS) and can be imprecise — a mobile detailer may be coded as a car wash, for example.
- Medians beat averages here: a few very large loans pull averages up. We show the median and the middle half (25th–75th percentile).
- No default rates. Most recent loans are still being repaid, so charge-off rates for these years would be misleading. We don't show them.
- Cancelled loans are excluded, and any group with fewer than 10 loans is hidden. We never publish borrower names.
- Lender counts aren't a quality rating. Big national lenders make many small loans; local lenders may know your market better. Talk to several, or use SBA Lender Match.