Rack Electric Llc

153 16th St, Boca Raton, FL 33432 · Electrical Contractors (NAICS 238210)

Loan Summary

Source: SBA FOIA Loan-Level Data

Total Loans

Total Amount

$5.8M

Jobs Supported

348

Years Active

2017–2024

Loan History (4)

Source: SBA FOIA

7(a)$2,430,000

Cancelled

Approved: Mar 26, 2024 (FY2024)
SBA Guaranteed: $1,822,500 (75%)
Term: 120 months (10.0 yrs)
Interest Rate: 11.00%
Revolver: 0
Jobs Supported: 171
Business Type: Corporation
Business Age: Existing or More Than 2 Years Old
Industry: Electrical Contractors (NAICS 238210)

Lender

Paradise Bank

3800 N Federal Hwy, Boca Raton, FL 33431

Project Location

Palm Beach County, FL

7(a)$2,430,000

Cancelled

Approved: Jun 7, 2024 (FY2024)
SBA Guaranteed: $1,822,500 (75%)
Term: 120 months (10.0 yrs)
Interest Rate: 11.00%
Revolver: 0
Jobs Supported: 171
Business Type: Corporation
Business Age: Existing or More Than 2 Years Old
Industry: Electrical Contractors (NAICS 238210)

Lender

Paradise Bank

3800 N Federal Hwy, Boca Raton, FL 33431

Project Location

Palm Beach County, FL

7(a)$100,000

Cancelled

Approved: Dec 6, 2018 (FY2019)
SBA Guaranteed: $85,000 (85%)
Term: 120 months (10.0 yrs)
Interest Rate: 7.25%
Revolver: 0
Jobs Supported: 2
Business Type: Corporation
Business Age: Existing or More Than 2 Years Old
Industry: Electrical Contractors (NAICS 238210)

Lender

Paradise Bank

3800 N Federal Hwy, Boca Raton, FL 33431

Project Location

Palm Beach County, FL

7(a)$824,000

Paid in Full

Approved: Jan 25, 2017 (FY2017)
SBA Guaranteed: $618,000 (75%)
Term: 300 months (25.0 yrs)
Interest Rate: 5.50%
Revolver: 0
Jobs Supported: 4
Business Type: Corporation
Industry: Electrical Contractors (NAICS 238210)
Paid in Full: Jul 31, 2020

Lender

Paradise Bank

3800 N Federal Hwy, Boca Raton, FL 33431

Project Location

Palm Beach County, FL

Business Details

Business Type: Corporation
Business Age: Existing or More Than 2 Years Old
NAICS Code: 238210 — Electrical Contractors
Address: 153 16th St
Boca Raton, FL 33432

Lender

Paradise Bank

3800 N Federal Hwy, Boca Raton, FL 33431

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