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Little Dave's Electric

Delano, MN · Electrical Contractors and Other Wiring Installation Contractors · NAICS 238210

Little Dave's Electric, located in Delano, Minnesota, is classified under SBA industry code 238210 for electrical contractors and other wiring installation contractors. The business was financed with an SBA 7(a) loan for a change of ownership totaling $513,500, approved on March 5, 2025, through Frandsen Bank and Trust.

SBA 7(a) loan, change of ownership, approved Mar 5, 2025

$513,500 approvedLender: Frandsen Bank and Trust10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$513,500
SBA-guaranteed amount
$385,125 (75% of the approval)
Lender
Frandsen Bank and Trust, Arden Hills, MN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.5%, variable
Term
10 years (120 months)
Estimated maturity
March 5, 2035 (estimated, approval date plus term)
Estimated monthly payment
$6,645 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 10, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
4
Business type
Corporation
NAICS
238210, Electrical Contractors and Other Wiring Installation Contractors
Project location
Wright County, MN
SBA district office
Minnesota District Office
Congressional district
MN-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 3% 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 Minnesota: $1,482,119.

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 Minnesota