BlogRankingIndustryBest Electrical Contractors SBA Lenders of 2026

Best Electrical Contractors SBA Lenders of 2026

February 2, 2026
Industry, Ranking
5 min read

Best Electrical Contractors SBA Lenders of 2026

$356.2M
Total Funded

884
Loans Approved

$403K
Avg Loan Size

10.31%
Avg Interest Rate

186
Active Lenders

SBA Loans for Electrical Contractors Businesses

The Electrical Contractors industry received $356.2M in SBA 7(a) loans across 884 businesses in 2025. With 186 lenders actively funding this industry, finding the right bank can make a significant difference in your rates and approval odds.

Working with an experienced SBA loan broker who understands the Electrical Contractors industry can help you access lenders that specialize in your business type.

💡 Key Insight: The average SBA loan for Electrical Contractors businesses is $403K with an average rate of 10.31%. Lenders who specialize in this industry often offer better terms and faster approvals.

SBA Loans by Business Type

Here’s how SBA 7(a) loans break down for Electrical Contractors businesses by business stage:

🚀 Startups
23%
$50.7M • 199 loans

🏢 Existing Businesses
70%
$205.7M • 617 loans

🔄 Business Acquisitions
8%
$99.3M • 67 loans

Top 50 SBA Lenders for Electrical Contractors (2025)

These are the banks that funded the most SBA 7(a) loan volume to Electrical Contractors businesses, ranked by total volume:

Rank Lender Volume Loans Avg Rate
1 First Internet Bank of Indiana $17.0M 10 9.95%
2 The Huntington National Bank $16.8M 46 9.68%
3 Readycap Lending, LLC $15.3M 35 11.91%
4 Northeast Bank $14.8M 75 10.92%
5 First Bank of the Lake $14.1M 8 10.41%
6 JPMorgan Chase Bank, National Association $13.6M 39 10.11%
7 Newtek Bank, National Association $12.2M 29 10.67%
8 U.S. Bank, National Association $10.1M 89 10.65%
9 Wells Fargo Bank National Association $7.5M 25 11.46%
10 Dogwood State Bank $7.0M 6 9.38%
11 Brookline Bank, a Division of Beacon Bank and Trust $6.7M 4 9.75%
12 The Bancorp Bank National Association $6.1M 4 8.81%
13 Port 51 Lending LLC $5.7M 4 9.81%
14 United Midwest Savings Bank National Association $5.7M 17 10.21%
15 Metro City Bank $5.2M 2 8.25%
16 Live Oak Banking Company $5.1M 11 10.06%
17 Bank of America, National Association $5.0M 14 7.21%
18 Harvest Small Business Finance, LLC $4.6M 6 10.04%
19 First Oklahoma Bank $4.5M 2 9.00%
20 Lendistry SBLC, LLC $4.4M 21 12.10%
21 Cadence Bank $4.4M 7 10.18%
22 First Bank $4.2M 2 9.63%
23 Merchants Bank of Indiana $4.2M 3 9.67%
24 Gulf Coast Bank and Trust Company $4.2M 3 10.92%
25 Coastal States Bank $4.0M 1 9.75%
26 America First FCU $4.0M 1 7.25%
27 Climate First Bank $3.9M 2 9.00%
28 The Citizens National Bank of Bluffton $3.8M 1 8.00%
29 Capital Community Bank $3.7M 1 10.00%
30 Truist Bank $3.5M 2 9.50%
31 Pathward National Association $3.4M 2 9.63%
32 TD Bank, National Association $3.4M 39 10.66%
33 BancFirst $3.4M 3 7.83%
34 BayFirst National Bank $3.4M 23 12.17%
35 Manufacturers and Traders Trust Company $3.3M 35 11.19%
36 Enterprise Bank & Trust $3.3M 2 8.63%
37 Zions Bank, A Division of $3.2M 16 10.48%
38 Community Bank & Trust-West Georgia $2.9M 2 10.13%
39 Mission Bank $2.9M 2 10.25%
40 Citizens Community Federal National Association $2.8M 1 9.75%
41 VelocitySBA, LLC $2.6M 3 10.33%
42 Riverside Bank of Dublin $2.6M 2 9.88%
43 American Momentum Bank $2.5M 1 9.50%
44 First United Bank and Trust Company $2.3M 1 9.50%
45 Atlantic Union Bank $2.2M 3 9.92%
46 Banc of California $2.2M 3 7.75%
47 Glacier Bank $2.1M 3 8.00%
48 Celtic Bank Corporation $2.1M 11 10.73%
49 Regions Bank $2.1M 3 8.77%
50 Grasshopper Bank National Association $2.0M 5 10.75%

🚀 Best Lenders for Electrical Contractors Startups

Starting a new electrical contractors business? These lenders funded the most startup loans in this industry:

Rank Lender Startup Volume Loans Avg Rate
1 Readycap Lending, LLC $6.9M 3 9.75%
2 First Bank of the Lake $4.8M 3 9.33%
3 America First FCU $4.0M 1 7.25%
4 United Midwest Savings Bank National Association $3.5M 15 10.22%
5 U.S. Bank, National Association $2.5M 28 10.99%
6 First Internet Bank of Indiana $2.0M 2 10.25%
7 Port 51 Lending LLC $1.8M 2 9.25%
8 Atlantic Union Bank $1.7M 1 10.25%
9 Community Bank & Trust-West Georgia $1.6M 1 10.00%
10 Texas Capital Bank $1.4M 1 6.50%

🔄 Best Lenders for Electrical Contractors Acquisitions

Looking to buy an existing electrical contractors business? These lenders specialize in acquisition financing:

Rank Lender Acquisition Volume Loans Avg Rate
1 First Internet Bank of Indiana $13.1M 7 10.04%
2 The Huntington National Bank $7.9M 6 9.17%
3 Brookline Bank, a Division of Beacon Bank and Trust $6.1M 2 9.75%
4 Dogwood State Bank $5.8M 3 9.25%
5 First Oklahoma Bank $4.3M 1 9.00%
6 Coastal States Bank $4.0M 1 9.75%
7 Climate First Bank $3.9M 2 9.00%
8 The Citizens National Bank of Bluffton $3.8M 1 8.00%
9 Capital Community Bank $3.7M 1 10.00%
10 Port 51 Lending LLC $2.9M 1 10.25%

🏢 Best Lenders for Existing Electrical Contractors Businesses

Already running an established electrical contractors business? These lenders have funded the most loans to existing businesses in your industry:

Rank Lender Volume Loans Avg Rate
1 Northeast Bank $14.1M 68 10.91%
2 JPMorgan Chase Bank, National Association $12.9M 36 10.05%
3 Newtek Bank, National Association $11.7M 26 10.71%
4 First Bank of the Lake $9.3M 5 11.05%
5 Readycap Lending, LLC $7.9M 31 12.18%
6 The Huntington National Bank $7.9M 33 9.76%
7 U.S. Bank, National Association $7.7M 61 10.49%
8 Wells Fargo Bank National Association $7.2M 7 8.01%
9 Metro City Bank $5.2M 2 8.25%
10 Lendistry SBLC, LLC $4.4M 21 12.10%

Top States for Electrical Contractors SBA Loans

Here are the states with the highest SBA lending volume for Electrical Contractors businesses:

Rank State Volume Loans
1 California $36.0M 106
2 Colorado $27.4M 43
3 North Carolina $20.9M 22
4 Florida $20.3M 50
5 Texas $17.8M 56
6 Utah $16.3M 22
7 Georgia $15.5M 14
8 New York $13.7M 49
9 Ohio $11.8M 29
10 New Jersey $10.5M 19
11 Indiana $10.3M 21
12 Arizona $9.2M 13
13 New Mexico $9.2M 8
14 Pennsylvania $8.8M 23
15 Oklahoma $8.2M 8
16 Wisconsin $7.9M 8
17 Illinois $7.7M 31
18 Missouri $7.5M 18
19 Minnesota $7.4M 20
20 New Hampshire $6.8M 15
21 Idaho $6.6M 17
22 Nevada $6.3M 20
23 Tennessee $5.6M 15
24 Vermont $5.4M 7
25 Oregon $5.0M 15
26 Washington $4.7M 27
27 Puerto Rico $4.4M 8
28 Connecticut $4.4M 22
29 Massachusetts $4.1M 36
30 Michigan $3.8M 21
31 Alabama $3.3M 8
32 South Carolina $3.2M 11
33 Arkansas $3.1M 5
34 Kentucky $2.8M 8
35 Montana $2.5M 7
36 Maryland $2.5M 12
37 Louisiana $2.0M 8
38 Virginia $2.0M 15
39 District of Columbia $2.0M 4
40 Maine $1.9M 4
41 Kansas $1.7M 7
42 Nebraska $1.2M 4
43 North Dakota $1.1M 2
44 Rhode Island $1.1M 3
45 Iowa $513K 8
46 Mississippi $505K 2
47 Delaware $485K 6
48 Alaska $460K 1
49 South Dakota $443K 2
50 West Virginia $150K 1

Top Cities for Electrical Contractors SBA Loans

Mooresville, Nc

$8.6M
Volume

4
Loans

Phoenix, Az

$7.5M
Volume

4
Loans

Woods Cross, Ut

$6.8M
Volume

3
Loans

Rice Lake, Wi

$6.6M
Volume

2
Loans

Albuquerque, Nm

$6.3M
Volume

2
Loans

Las Vegas, Nv

$6.1M
Volume

15
Loans

Springfield, Mo

$5.5M
Volume

6
Loans

Berlin, Nh

$5.5M
Volume

4
Loans

Denver, Co

$5.2M
Volume

7
Loans

Saint George, Ut

$4.9M
Volume

3
Loans

Eden, Ga

$4.8M
Volume

1
Loans

Wiggins, Co

$4.7M
Volume

3
Loans

South Burlington, Vt

$4.6M
Volume

2
Loans

Tulsa, Ok

$4.5M
Volume

2
Loans

Rexburg, Id

$4.0M
Volume

1
Loans

Butler, Pa

$4.0M
Volume

2
Loans

🤝 Why Use an SBA Broker for Electrical Contractors Loans?

GoSBA Loans has extensive experience financing Electrical Contractors businesses:

  • Industry expertise — we know which lenders specialize in Electrical Contractors
  • Access to 186+ lenders — including banks that don’t accept direct applications
  • Better rates — our relationships help secure competitive terms
  • Faster approvals — proper preparation leads to quicker decisions
  • Free service — lenders pay us, you pay nothing extra

📞 Get Expert Help with Your Electrical Contractors SBA Loan

Our team specializes in SBA financing for Electrical Contractors businesses. Let us match you with the right lender for your specific needs.

Need SBA financing for your Electrical Contractors business? GoSBA Loans specializes in SBA loans for Electrical Contractors businesses. Contact our industry specialists today for a free consultation.

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http://gosbaloans.com

Ishan Jetley is the owner of GoSBA Loans. I have assisted 100's of businesses with their business loans. I specialize in SBA financing for working capital, real estate and business acquisitions.

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