What is the SBA loan default rate for Electrical Contractors?

At 15.2%, Electrical Contractors sits below the 15.4% all industry SBA default rate (charged off as a share of resolved loans), moderate default risk relative to other SBA industries. The rate is measured on the resolved loans (paid in full or charged off), loans that have reached a final outcome. 1100 lenders actively fund this industry.

Which SBA program is best for Electrical Contractors?

The SBA 7(a) program is the most commonly used for Electrical Contractors businesses, accounting for the majority of approved loans. The SBA 504 program is popular for larger real estate and equipment purchases.

NAICS 238210ConstructionLending Growing

How Much Can Electrical Contractors Businesses Get in SBA Loans?

Name: Electrical Contractors SBA Loan Performance Data (NAICS 238210)
Creator: PeerSense
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15,119 SBA loans totaling $3.8B have been approved for electrical contractors businesses (NAICS 238210). The average approved SBA loan is $248K, which is 27% below avg the $340K national average. 1100 active lenders fund this industry with a 15.2% default rate on the matured 2018-2021 loan cohort.

Moderate default risk15.2% vs 15.4% all industry avg

At 15.2%, Electrical Contractors sits below the 15.4% all industry SBA default rate (charged off as a share of resolved loans), moderate default risk relative to other SBA industries. The capital source prices this risk into rate and structure.

Quick Answer

NAICS 238210 (Electrical Contractors) received 15,119 SBA loans worth $3.8B across 5+ states. Average loan $248K, average term 110 months, 15.2% default rate (resolved loan basis).1100 active SBA approved lenders fund this industry. Most electrical contractors loans use the SBA 7(a) program.

15,119

Total SBA Loans

$3.8B

Total Volume

$248K

Avg Loan Size

27% below avg

1,100

Active Lenders

110 mo

Avg Term

15% below avg

150,171

Jobs Supported

Is SBA Lending Growing for Electrical Contractors?+41% growth

651

660

690

619

492

567

603

739

938

1,042

$121.1M

$150.3M

$168.9M

$188.5M

$213.9M

$307.8M

$251.1M

$290.4M

$361.5M

$434.9M

Which SBA Program Do Electrical Contractors Businesses Use Most?

SBA 7(a)13,951 (92%)

SBA 5041,168 (8%)

What Is the Best SBA Loan for Electrical Contractors?

SBA 7(a)

The most widely used SBA program for electrical contractors businesses: flexible terms, multiple use cases

Industry avg loan: $248K

Typical term: 110 months

Historical avg rate: 7.78%

1100+ lenders active in this industry

Default rate (2018 to 21 matured cohort): 15.2%

Where Are Electrical Contractors SBA Loans Most Common?

1,993 loans

$694.2M

933 loans

$176.8M

899 loans

$236.5M

844 loans

$255.0M

725 loans

$125.4M

SBA Lending Activity in Electrical Contractors

1,100 SBA lenders have funded 15,119 loans to electrical contractors businesses (NAICS 238210). Which lender approves your deal depends on your location, loan size, credit profile and time in business, not on who funded someone else. PeerSense makes the introduction.

Loans funded

15,119

Active lenders

1,100

Total volume

$3.8B

Avg loan size

$248K

Browse all SBA lenders

Electrical Contractors Industry Context

U.S. Employment

8,309,000

BLS · 2026

Talk to PeerSense

PeerSense sources capital for electrical contractors businesses. The capital source sets the terms. No upfront fee. Talk to PeerSense. Referral fee at closing.

Retainers

10%

Down with SBA 7(a)

25yr

Terms Available

Talk to PeerSense (317) 452-6990

Talk to PeerSense about financing a Electrical Contractors business.

Tell us your loan amount and use of funds. PeerSense sources capital. It is not the lender.

SBA 7(a) / 504: The desk will reach out. No obligation.

How big is your deal?

Where are you in the deal?

Equity or down payment ready

Credit score

Timeline to close

SBA already on the books?

What best describes your company

Liquid funds available outside this deal

Where is the property or business

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Referral fee realized at closing · Or call (317) 452 6990

How Does SBA Lending Work for Electrical Contractors Businesses?

Across all SBA loan programs, 15,119 loans have been approved for businesses classified under NAICS 238210 (Electrical Contractors), representing $3.8B in total capital deployed. The average approved loan of $248K is 27% below avg the national SBA average of $340K, with typical repayment terms of 110 months.

SBA lending for electrical contractors is accelerating. Loan volume has grown approximately 41% over recent fiscal years. This upward trajectory suggests expanding access to capital and growing lender confidence in this sector. Peak activity occurred in FY2025.

The industry sees a balanced mix of SBA programs, with 8% of loans using the 504 program for fixed asset acquisition and the majority using 7(a) for its flexibility across working capital, equipment, and business acquisition uses. SBA 7(a) loans offer up to $5M with terms up to 25 years for real estate.

Talk to PeerSense about a electrical contractors file. The capital source sets the terms. The desk fee is paid at closing, never upfront.

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Frequently Asked Questions: Electrical Contractors SBA Loans

What is the average SBA loan size for electrical contractors businesses?

Based on 15,119 approved SBA loans, the average loan size for electrical contractors (NAICS 238210) is $248K. This compares to the national SBA average of $340K across all industries.

Which SBA loan program is best for a electrical contractors business?

SBA 7(a) is the most commonly used SBA program for electrical contractors businesses. The most widely used SBA program for electrical contractors businesses: flexible terms, multiple use cases. PeerSense can analyze your specific deal to determine the optimal program.

How many lenders fund SBA loans for electrical contractors?

1100 different SBA approved lenders have funded loans in this industry. Not all lenders are equally active in every industry. Talk to PeerSense. The capital source sets the terms for a electrical contractors file.

What states have the most SBA lending for electrical contractors?

CA leads with 1,993 SBA loans and $694.2M in total volume for electrical contractors businesses. NY, TX, FL also show strong lending activity in this sector.

How does PeerSense help electrical contractors businesses get SBA loans?

PeerSense is a capital advisory firm. Talk to PeerSense about a electrical contractors file. The capital source sets the terms. No upfront fee. The desk is paid at closing.

Related Construction Industries

All Other Specialty Trade Contractors

21,953 loans · N/A

Avg: $308K

Plumbing, Heating, and Air-Conditioning Contractors

20,555 loans · N/A

Avg: $289K

Residential Remodelers

20,213 loans · N/A

Avg: $126K

New Single-Family Housing Construction (except Operative Builders)

10,114 loans · N/A

Avg: $161K

Site Preparation Contractors

8,290 loans · N/A

Avg: $288K

Commercial and Institutional Building Construction

8,203 loans · N/A

Avg: $309K

Data aggregated from SBA loan records (1992 to 2025). Electrical Contractors defined by NAICS code 238210. Not financial advice. PeerSense sources capital through a curated network of commercial lenders and capital sources. Consult a lending professional before making financial decisions.