Electrical Contractors and Other Wiring Installation Contractors: SBA business acquisition loan data
395 SBA 7(a) loans since FY2018 financed the purchase of an existing business classified as Electrical Contractors and Other Wiring Installation Contractors (NAICS 238210), totaling $500M. Median loan $820,000, 27% higher than the all-acquisition median.
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Reading this industry's numbers
- Deal size. The loan excludes the buyer's equity and any seller note and may include working capital. A loan request far above $1,857,500 would be in the top quarter of SBA acquisition loans in this industry.
- Share of all acquisitions. This industry is 0.8% of all SBA-financed business purchases, ranking #26 of 300 industries tracked.
- Geography. Florida leads with 36 loans; the top five states account for 39% of the industry's acquisitions.
- Jobs. Lenders reported 7,330 jobs supported across these loans, about 18.6 per acquisition, a rough proxy for the size of business changing hands.
Electrical Contractors and Other Wiring Installation Contractors acquisitions by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 27 | $25.8M | $580,300 | |
| FY2019 | 40 | $39.4M | $767,750 | |
| FY2020 | 34 | $51.1M | $836,250 | |
| FY2021 | 47 | $54.2M | $685,000 | |
| FY2022 | 41 | $47.4M | $620,000 | |
| FY2023 | 33 | $38.5M | $550,300 | |
| FY2024 | 51 | $70M | $870,000 | |
| FY2025 | 66 | $97.8M | $972,000 | |
| FY2026 | 56 | $76.2M | $1,105,000 |
How often do these acquisition loans fail?
Of the 148 Electrical Contractors and Other Wiring Installation Contractors acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 6 have been charged off by the SBA, a rate of 4.0% by loan count and 1.1% by dollars. 87 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so Electrical Contractors and Other Wiring Installation Contractors is 15% higher than the acquisition-loan average. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
Seller note standby terms and third-party consents are reviewed before closing.
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Top states
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Florida | 36 | 9.1% | $46.7M | |
| 2 | Minnesota | 35 | 8.9% | $35.8M | |
| 3 | Texas | 30 | 7.6% | $37.9M | |
| 4 | California | 28 | 7.1% | $38.7M | |
| 5 | Colorado | 25 | 6.3% | $29.8M | |
| 6 | Washington | 14 | 3.5% | $11.7M | |
| 7 | Michigan | 13 | 3.3% | $14.7M | |
| 8 | North Carolina | 12 | 3.0% | $20.2M | |
| 9 | Illinois | 12 | 3.0% | $13.7M | |
| 10 | Ohio | 11 | 2.8% | $17M |
Most active lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 30 | 7.6% | $28.6M | |
| 2 | Live Oak Banking Company | 25 | 6.3% | $32M | |
| 3 | First Internet Bank of Indiana | 11 | 2.8% | $20.7M | |
| 4 | The Fidelity Bank | 10 | 2.5% | $10.8M | |
| 5 | First Bank of the Lake | 9 | 2.3% | $17.8M | |
| 6 | Old National Bank | 8 | 2.0% | $9.2M | |
| 7 | TowneBank | 7 | 1.8% | $17.1M | |
| 8 | Glacier Bank | 7 | 1.8% | $5.2M | |
| 9 | Fulton Bank, National Association | 6 | 1.5% | $11.7M | |
| 10 | Beacon Bank and Trust | 6 | 1.5% | $11M |
Seller note standby terms and third-party consents are reviewed before closing.
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Franchise brands in Electrical Contractors and Other Wiring Installation Contractors
2% of acquisition loans in this industry involved a franchised unit. Brands with the most SBA-financed resales:
| # | Brand | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Outdoor Lighting Perspectives | 3 | 33.3% | $2.2M | |
| 2 | Servpro | 1 | 11.1% | $600K |
Questions buyers ask
How much is a typical SBA loan to buy a business in Electrical Contractors and Other Wiring Installation Contractors?
Median $820,000 across 395 acquisition loans (FY2018 to FY2026); the middle half ran $350,000 to $1,857,500. That is 27% higher than the $645,250 median for all SBA-financed acquisitions.
Which lenders finance the most Electrical Contractors and Other Wiring Installation Contractors acquisitions?
The Huntington National Bank (30), Live Oak Banking Company (25), First Internet Bank of Indiana (11), The Fidelity Bank (10), First Bank of the Lake (9).
Are businesses in Electrical Contractors and Other Wiring Installation Contractors often franchised?
Rarely. Only 2% of acquisition loans in this industry involved a franchised business; most are independent operators.
How risky are SBA loans for buying a business in Electrical Contractors and Other Wiring Installation Contractors?
Of 148 seasoned loans (FY2018 to FY2021), 4.0% charged off, 15% higher than the 3.5% benchmark for all SBA acquisition loans.
What loan terms are common for Electrical Contractors and Other Wiring Installation Contractors acquisitions?
Median term 10 years, average initial rate 7.89% at approval (blended across years and fixed/variable structures). Terms longer than 10 years usually indicate real estate was included in the purchase.
The purchase agreement decides what you bought, not the loan approval.
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- Electrical Contractors and Other Wiring Installation Contractors in Florida
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- The Huntington National Bank
- Live Oak Banking Company
- First Internet Bank of Indiana
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