MR. ELECTRIC: how its 120 SBA loans actually performed
Electrical Contractors and Other Wiring Installation Contractors · 120 units financed with SBA 7(a) loans since 2010 · 32 lenders have funded this brand.
Defaults run at or below the SBA-wide average
1 of 24 seasoned units charged off — 4.2%, against 5.7% across all SBA 7(a) loans.
How this brand compares
share of owners who defaulted within seven yearsWho lends on it
most active lenders, 2010 onward| Lender | Units funded |
|---|---|
| United Midwest Savings Bank National Association | 66 |
| Stearns Bank National Association | 8 |
| The Huntington National Bank | 5 |
| BayFirst National Bank | 4 |
| Newtek Small Business Finance, Inc. | 4 |
| JPMorgan Chase Bank, National Association | 3 |
32 lenders have funded MR. ELECTRIC since 2010. Fewer active lenders means less competition on your rate.
A note on sample size
MR. ELECTRIC is a smaller-sample brand: 24 of its SBA loans are old enough to judge (our flagship brands have 60+). The default rate above is a real count, but read it as a signal rather than a verdict — with 24 loans, a handful of outcomes moves the number. We omit the year-by-year breakdowns shown on larger brands, which would be noisy at this size.
Common questions
How many MR. ELECTRIC SBA loans have defaulted?
1 of 24 seasoned MR. ELECTRIC SBA 7(a) loans charged off within seven years — a 4.2% default rate, against 5.7% across all SBA 7(a) loans.
Is a MR. ELECTRIC franchise a safe SBA loan bet?
By the numbers its default rate is below the SBA-wide 5.7% average. That is a financing signal, not a verdict on the business — and with 24 loans it is a smaller sample than our flagship brands.
Which lenders fund MR. ELECTRIC franchises?
32 lenders have made SBA loans to MR. ELECTRIC since 2010, led by United Midwest Savings Bank National Association.