SBA Loans for Electrical Contractors: Top Lenders & Recent Approvals
NAICS 238NAICS 238 covers electrical contractors businesses. Based on historical SBA 7(a) lending data.
Total Approvals
6,222
for Electrical Contractors
Median Loan Size
$150,000
per approval
Recent Activity
442
last 90 days through Dec 2025
NAICS 238 covers electrical contractors businesses. This is one of the more actively funded industries through SBA 7(a) lending, with 6,222 approvals on record and a median loan size of $150,000.
Key trends & insights
- SBA lending to electrical contractors businesses grew 44% year-over-year — from 410 to 590 approvals.
- Total SBA dollars flowing into this industry increased by 114% year-over-year, reaching $280,199,300 in the trailing 12 months.
- THE Huntington National Bank leads this industry with 158 approvals (25% market share) and a median loan of $75,800.
- The typical loan size for electrical contractors has increased 22% — average median moving from $121,783 to $148,125.
- Loan sizes vary dramatically by location — the median in South Dakota ($500,000) is 12.5x higher than Vermont ($40,000).
Lending trends for Electrical Contractors
Top lenders by historical volume
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 158 | $75,800 | |
| 2 | 95 | $40,000 | |
| 3 | 58 | $55,000 | |
| 4 | 29 | $150,000 | |
| 5 | 29 | $75,000 | |
| 6 | 29 | $150,000 | |
| 7 | 28 | $150,000 | |
| 8 | 25 | $100,000 | |
| 9 | 22 | $20,000 | |
| 10 | 19 | $200,000 | |
| 11 | 18 | $250,000 | |
| 12 | 17 | $500,000 | |
| 13 | 17 | $700,000 | |
| 14 | 16 | $253,500 | |
| 15 | 15 | $90,000 | |
| 16 | 14 | $150,000 | |
| 17 | 14 | $275,000 | |
| 18 | 13 | $25,000 | |
| 19 | 10 | $250,000 | |
| 20 | 10 | $175,000 |
Recent SBA 7(a) approvals for Electrical Contractors
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2025-12 | U.S. Bank, National Association | JAG*****LLC | TIPP CITY, OH | $2,695,000 |
| 2025-12 | Cadence Bank | PLA*****LLC | Norcross, GA | $1,082,000 |
| 2025-12 | Celtic Bank Corporation | PAN*****NC. | MONSEY, NY | $150,000 |
| 2025-12 | D. L. Evans Bank | Red*****LLC | BELLEVUE, ID | $20,000 |
| 2025-12 | U.S. Bank, National Association | THE*****LLC | SALT LAKE CITY, UT | $50,000 |
| 2025-12 | PNC Bank, National Association | NOL*****ING | SONORA, CA | $179,000 |
| 2025-12 | CenTrust Bank, A Division of SmartBiz Bank National Associat | Lig*****rp. | DOWNERS GROVE, IL | $135,000 |
| 2025-12 | Telhio Credit Union Inc | Utm*****LLC | ORIENT, OH | $200,000 |
| 2025-12 | Live Oak Banking Company | DKT*****LLC | LENEXA, KS | $150,000 |
| 2025-12 | Columbia Bank | Dia*****ing | YUBA CITY, CA | $29,000 |
| 2025-12 | WaFd Bank | Der*****LLC | ROUND ROCK, TX | $75,000 |
| 2025-12 | BankVista | GSW*****.C. | GOOD THUNDER, MN | $163,300 |
| 2025-12 | HomeTrust Bank | Cer***** DC | VIENNA, VA | $620,000 |
| 2025-12 | Celtic Bank Corporation | MIS*****RIC | Roseville, CA | $150,000 |
| 2025-12 | Live Oak Banking Company | CHE*****LLC | JASPER, GA | $2,300,000 |
| 2025-12 | CenTrust Bank, A Division of SmartBiz Bank National Associat | Com*****nc. | ROUND ROCK, TX | $150,000 |
| 2025-12 | JPMorgan Chase Bank, National Association | SDA*****INC | BELLEVUE, WA | $360,000 |
| 2025-12 | Hancock Whitney Bank | Cre*****LLC | JENNINGS, LA | $500,000 |
| 2025-12 | JPMorgan Chase Bank, National Association | HI-*****INC | IRVINE, CA | $500,000 |
| 2025-12 | Northeast Bank | Old*****LLC | Tuscon, AZ | $150,000 |
| 2025-11 | First Horizon Bank | AMK*****LLC | GONZALES, LA | $974,100 |
| 2025-11 | First Horizon Bank | AMK*****LLC | GONZALES, LA | $3,030,000 |
| 2025-11 | First Horizon Bank | AMK*****LLC | GONZALES, LA | $200,000 |
| 2025-11 | Readycap Lending, LLC | K&L*****LLC | HOUSTON, TX | $50,000 |
| 2025-11 | U.S. Bank, National Association | NOR*****RKS | CARSON CITY, NV | $17,000 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
Activity by state
State-by-state breakdown
| # | State | Approvals |
|---|---|---|
| 1 | California | 587 |
| 2 | Florida | 497 |
| 3 | Ohio | 491 |
| 4 | New York | 386 |
| 5 | Texas | 370 |
| 6 | Michigan | 274 |
| 7 | Pennsylvania | 253 |
| 8 | Massachusetts | 229 |
| 9 | Colorado | 210 |
| 10 | Minnesota | 178 |
| 11 | New Jersey | 177 |
| 12 | Illinois | 169 |
| 13 | Washington | 167 |
| 14 | Arizona | 140 |
| 15 | North Carolina | 129 |
| 16 | Missouri | 123 |
| 17 | Utah | 122 |
| 18 | Oregon | 115 |
| 19 | Indiana | 113 |
| 20 | Wisconsin | 107 |
| 21 | Connecticut | 106 |
| 22 | Georgia | 105 |
| 23 | Maryland | 93 |
| 24 | Tennessee | 91 |
| 25 | Idaho | 89 |
SBA loans for Electrical Contractors by state
Similar industries
Frequently asked questions about SBA loans for Electrical Contractors
Who are the top SBA lenders for Electrical Contractors?▾
Based on historical SBA 7(a) data, the most active lenders for Electrical Contractors (NAICS 238) include THE Huntington National Bank, U.s. Bank, National Association, TD Bank, National Association, and 17 more. THE Huntington National Bank leads with 158 approved loans.
What is the typical SBA loan size for Electrical Contractors?▾
The median SBA 7(a) loan amount for Electrical Contractors businesses is $150,000, based on 6,222 total approved loans in the dataset.
Which states have the most SBA lending activity for Electrical Contractors?▾
California leads with 587 SBA 7(a) approvals for Electrical Contractors, followed by Florida (497) and Ohio (491).
How do I find the best SBA lender for my electrical contractors business?▾
Start by reviewing the lender rankings on this page, which are based on real SBA approval data for NAICS 238. You can also use the MyLenderPilot Lender Fit Quiz to get a personalized ranking based on your state, loan size, and years in business.
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