Banner Electric
Banner Electric is located in Plymouth, IN, and the SBA lists its industry as Electrical Contractors and Other Wiring Installation Contractors. It was approved for an SBA 7(a) loan of $625,000 for a change of ownership on December 16, 2025.
SBA 7(a) loan, change of ownership, approved Dec 16, 2025
- Gross approval
- $625,000
- SBA-guaranteed amount
- $468,750 (75% of the approval)
- Lender
- First Internet Bank of Indiana, Fishers, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 16, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $8,173 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jan 29, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 14
- Business type
- Corporation
- NAICS
- 238210, Electrical Contractors and Other Wiring Installation Contractors
- Project location
- Marshall County, IN
- SBA district office
- Indiana District Office
- Congressional district
- IN-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 7% of acquisition loans in Electrical Contractors and Other Wiring Installation Contractors on this site.
- Average acquisition loan in Electrical Contractors and Other Wiring Installation Contractors: $1,890,316.
- Average acquisition loan in Indiana: $1,995,900.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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Same industry in Indiana
- GRM Group LLC, Seymour
- Heads Electric LLC, Evansville