Financing for Insurance Agencies and Brokerages

Looking for commercial loans for insurance agencies and brokerages? Try the SBA. This $880,000 insurance agencies and brokerages loan was issued by a Minnesota bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Central Minnesota Fcu, out of Sauk Centre, Minnesota. The loan was granted and they received $880,000 to help grow their Sauk Centre, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
SAUK CENTRE, MN 56378

SBA Loan Lender

CENTRAL MINNESOTA FCU
1181 S MAIN ST
SAUK CENTRE, MN 56378

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

8/16/2004

Loan Approval Gross Amount

$880,000

Loan Approval from the SBA

Of the total $880,000 loan amount, the SBA guaranteed $660,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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