Mr. Electric
91
SBA Loans
$19.5M
Total Financed
$214K
Avg Loan Size
+25%
YoY Loan Growth
How Mr. Electric Compares
- Ranks #10 of 294 Home & Repair Services brands by SBA loan count (#88 of 3,543 overall).
- Its average loan of $214K is 21% above the Home & Repair Services median of $177K.
- Its 3.3% charge-off rate compares to a 2.9% average across all Home & Repair Services brands.
SBA Loan Activity by Fiscal Year
| Fiscal Year | Loans | Total Financed |
|---|---|---|
| FY2020 | 12 | $2.8M |
| FY2021 | 9 | $1.3M |
| FY2022 | 8 | $1.2M |
| FY2023 | 18 | $2.9M |
| FY2024 | 16 | $3.4M |
| FY2025 | 20 | $5.5M |
| FY2026 | 8 | $2.4M |
FY2026 may be a partial year -- the SBA dataset is refreshed quarterly and the most recent fiscal year is often incomplete.
Where Mr. Electric Is Getting SBA-Financed
Recent SBA-Financed Mr. Electric Locations
Borrower names and amounts as reported in the SBA's public 7(a) loan dataset.
Frequently Asked Questions
Is Mr. Electric growing or shrinking?
Mr. Electric's SBA loan count grew +25% year-over-year, suggesting rising financed expansion. This reflects SBA-backed financing activity, not necessarily total unit count -- see the methodology page for what this does and doesn't measure.
How much does it cost to open a Mr. Electric franchise?
We don't have that figure -- investment ranges and fees come from a franchisor's Franchise Disclosure Document (FDD), which this site doesn't parse (see methodology). The average SBA loan size of $214K (21% above the typical Home & Repair Services brand's $177K) is a rough proxy, but SBA loans often cover only part of total investment.
What's the SBA loan default rate for Mr. Electric?
3 of 91 SBA loans to Mr. Electric franchisees (3.3%) have been charged off since FY2020, compared to 2.9% across all Home & Repair Services brands.
Top SBA Lenders
- United Midwest Savings Bank National Association63
- Newtek Small Business Finance, Inc.4
- The Huntington National Bank4
- BayFirst National Bank3
- Highland Bank2
Get the Franchise SBA Financing Model -- an editable amortization, P&L, and breakeven calculator. $19.
Source: SBA 7(a) FOIA loan dataset. View dataset