Lending data
Who actually lends to utility businesses in California?
31 SBA 7(a) loans went to utility businesses in California recently, at a median of $150,000. Here are the lenders that made them, ranked.
31 SBA 7(a) loans went to utility businesses in California in the most recent fiscal years. The median was $150,000 over 10 years. The most active lender was Wells Fargo Bank, with 5 loans.
What lending to utility businesses in California actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Utilities, California | All 7(a) borrowers |
|---|---|---|
| Loans approved | 31 | 214,102 |
| Median loan | $150,000 | $150,000 |
| 25th - 75th percentile | $50,000 - $500,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 11.00% | 10.25% |
| Share to startups | 32.3% | 33.6% |
| Charge-off rate, FY2010-19 cohort | not enough history | 7.1% |
Which lenders actually funded them
Ranked by loans approved to utility businesses in California. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Wells Fargo Bank | 5 | $15,000 | 100% | 13.00% |
| Celtic Bank Corporation | 3 | $150,000 | 33% | 9.75% |
| Readycap Lending, LLC | 3 | $350,000 | 0% | 11.00% |
| Valley First Federal Credit Union | 2 | $264,500 | 0% | 8.50% |
| CDC Small Business Finance Corp | 2 | $79,500 | 0% | 12.12% |
| Newtek Bank | 2 | $150,000 | 50% | 10.75% |
What stands out in this market
Reading the figures above against the national picture:
- Loan sizes are typical. The median of $150,000 is within a few percent of the $150,000 national median across all 7(a) borrowers, so nothing about this market is unusual on size.
- Startup share is about average, at 32% against 34% nationally.
- No single lender dominates, but the top three made 35% of these loans, so the shortlist below covers most of the active market.
- Rates run higher here. The median initial rate of 11.00% is 0.75 points above the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
Which of them lend to new businesses
Of those loans, 32.3% went to businesses the SBA classes as startups — new, under two years old, or opening with the proceeds. These are the lenders in this market that actually wrote them.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Wells Fargo Bank | 5 | $15,000 | 100% | 13.00% |
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year. See choosing an SBA lender.
- Check your coverage first with the affordability calculator so you ask for a number the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in California: retail, restaurants and hotels, professional services, construction, personal services, healthcare
- Utilities in comparable states: Texas, Florida