Electrical Contractors and Other Wiring Installation Contractors acquisitions in Minnesota: SBA loan data
Since FY2018, SBA lenders have approved 35 7(a) loans to buy an existing business classified as Electrical Contractors and Other Wiring Installation Contractors in Minnesota, totaling $35.8M. The median loan was $549,000. That is 2.0% of the 1,778 acquisition loans in Minnesota.
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How this compares
The median Electrical Contractors and Other Wiring Installation Contractors loan in Minnesota is 22% higher than the $450,000 median for all Minnesota acquisitions, and 33% lower than the $820,000 median for Electrical Contractors and Other Wiring Installation Contractors acquisitions nationwide (395 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 4.0% of seasoned Electrical Contractors and Other Wiring Installation Contractors acquisition loans were charged off, and 3.2% of seasoned Minnesota acquisition loans of any type.
Electrical Contractors and Other Wiring Installation Contractors acquisition loans in Minnesota by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $3M | $350,000 | |
| FY2019 | 4 | $2.8M | $271,250 | |
| FY2020 | 3 | $6.9M | $2,608,000 | |
| FY2021 | 8 | $7.8M | $624,500 | |
| FY2022 | 2 | $712K | $355,950 | |
| FY2023 | 2 | $2.1M | $1,068,850 | |
| FY2024 | 8 | $7.4M | $637,500 | |
| FY2025 | 3 | $3.5M | $513,500 | |
| FY2026 | 2 | $1.7M | $860,500 |
How often do these acquisition loans fail?
Fewer than 20 Electrical Contractors and Other Wiring Installation Contractors in Minnesota acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. 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.
Terms signed in the LOI shape the purchase agreement that follows.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Old National Bank | 6 | 17.1% | $7.8M | |
| 2 | Frandsen Bank and Trust | 5 | 14.3% | $2.3M | |
| 3 | First Bank of the Lake | 3 | 8.6% | $4.6M | |
| 4 | CCFBank National Association | 2 | 5.7% | $3M | |
| 5 | BankVista | 2 | 5.7% | $2.3M |
Top franchise brands
No franchise brands recorded in this combination.
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Questions buyers ask
How much do SBA loans for Electrical Contractors and Other Wiring Installation Contractors acquisitions in Minnesota run?
The median SBA 7(a) loan was $549,000 across 35 loans (FY2018 to FY2026), with the middle half between $250,000 and $1,309,950. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Electrical Contractors and Other Wiring Installation Contractors acquisitions in Minnesota?
Old National Bank (6), Frandsen Bank and Trust (5), First Bank of the Lake (3), CCFBank National Association (2), BankVista (2). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Electrical Contractors and Other Wiring Installation Contractors acquisition loans fail in Minnesota?
Fewer than 20 loans in this combination are old enough to measure losses reliably, so no rate is shown. The national benchmark for all SBA acquisition loans is 3.5% (FY2018 to FY2021 cohort).
Are franchised businesses part of Electrical Contractors and Other Wiring Installation Contractors acquisitions in Minnesota?
1 of the 35 loans (3%) involved a franchise brand.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Small samples move a lot: each loan in this combination is 3% of the count. Industry is the NAICS code the lender recorded. See the methodology.