Financing for Insurance Agencies and Brokerages
Looking for loans for insurance agencies and brokerages? An SBA loan may be just what you've been looking for. This $30,000 insurance agencies and brokerages loan was issued by a Texas bank.
This company knew how to go about getting a business bank loan. Based in Abilene, Texas, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was First Finan Bank, based in Abilene, Texas.
SBA Loan Borrower
COMPANY TYPE: INSURANCE AGENTS AND BROKERS
ABILENE, TX 79605
SBA Loan Lender
FIRST FINAN BANK
3300 S 14TH ST
ABILENE, TX 79605
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
6411 - Insurance Agents and Brokers
524210 - Insurance Agencies and Brokerages
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $30,000 loan amount, the SBA guaranteed $24,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 6 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Finan Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.
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