SBA loans by business type
SBA Loans for Electricians
SBA lenders funded 10,695 7(a) and 504 loans for electricians since FY2010 (1.0% of all SBA lending in the data), totaling $3.3B, an average of $308K per loan. The most active lender is The Huntington National Bank.
By Mario Bailey · Source: SBA FOIA data, FY2010–2026 (as of 2026-03-31)
These figures are computed from the SBA's public 7(a) and 504 funded-loan records for Electrical Contractors (NAICS 23821). They cover funded loans, not applications, so a lender's activity here is a track-record signal — not a guarantee you will be approved. Among the 7(a) loans, the charge-off rate is 3.8% — a relative track-record signal, not a lifetime default rate (504 charge-offs are not reported in the SBA data); see our methodology. Estimate a payment with the SBA loan calculator, or check the basics with the eligibility checker.
Top SBA lenders in Construction, the sector that includes electricians
Ranked by SBA loans funded across Construction (NAICS 23), the full sector that contains Electrical Contractors (NAICS 23821). The sector is broader than electricians alone, and sector level is the granularity our per-lender track-record data supports, so every figure below, including the 7(a) charge-off rate, is sector-wide, not specific to electricians. Charge-off is reported on 7(a) loans, never on 504 loans, so a lender without a reliable 7(a) sample in the sector shows “not reported,” never 0%. A lender active in your situation is a good place to start; talk to a few before you apply.
| # | Lender | Loans | Total funded | Average loan | 7(a) charge-off |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 11,855 | $2.0B | $170K | 2.51% |
| 2 | U.S. Bank, National Association | 9,975 | $938.9M | $94K | 4.26% |
| 3 | TD Bank, National Association | 5,895 | $579.5M | $98K | 8.79% |
| 4 | Wells Fargo Bank National Association | 5,815 | $1.3B | $232K | 5.73% |
| 5 | JPMorgan Chase Bank, National Association | 5,674 | $923.3M | $163K | 6.13% |
| 6 | Manufacturers and Traders Trust Company | 4,025 | $440.8M | $110K | 5.71% |
| 7 | PNC Bank, National Association | 2,386 | $243.9M | $102K | 5.62% |
| 8 | Northeast Bank | 2,311 | $408.7M | $177K | 2.55% |
| 9 | BayFirst National Bank | 1,849 | $380.5M | $206K | 8.38% |
| 10 | KeyBank National Association | 1,649 | $427.9M | $259K | 3.52% |
SBA 7(a) and 504 loans, FY2010–2026, as of 2026-03-31, from the SBA's public record.
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Top states for electricians SBA loans
| State | Loans | Total volume |
|---|---|---|
| California | 1,419 | $591.4M |
| Florida | 672 | $245.4M |
| Texas | 598 | $209.2M |
| New York | 681 | $158.4M |
| Colorado | 335 | $143.2M |
| Minnesota | 309 | $119.0M |
| Ohio | 579 | $108.9M |
| Massachusetts | 547 | $97.6M |
| Illinois | 309 | $96.9M |
| Georgia | 188 | $88.4M |
SBA lending for electricians by year
Funded SBA volume by approval fiscal year (FY2010–2026).
SBA loans for electricians: frequently asked questions
Can you get an SBA loan for electricians?
Yes. Lenders funded 10,695 SBA 7(a) and 504 loans for electricians in the public data (as of 2026-03-31), 1.0% of all SBA lending, totaling $3.3B.
How much is a typical SBA loan for electricians?
The average SBA loan for electricians is $308K, across 10,695 funded loans. Your amount depends on use of funds, cash flow, and the lender.
Which SBA lenders fund electricians?
The Huntington National Bank, Wells Fargo Bank National Association, JPMorgan Chase Bank, National Association are among the most active SBA lenders for electricians by funded volume. A lender that regularly funds your situation is more likely to understand the deal.