Bank Loans for Insurance Agencies and Brokerages

Looking for bank loans for insurance agencies and brokerages? The SBA may be the answer. This $870,000 insurance agencies and brokerages loan was issued by a Rhode Island bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bethpage, New York was able to borrow $870,000 from Home Loan Invest Bank F.S.B.. The SBA made the loan possible by guaranteeing $652,500 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
BETHPAGE, NY 11714

SBA Loan Lender

HOME LOAN INVEST BANK F.S.B.
1 HOME LOAN PLAZA, STE 3
WARWICK, RI 02886

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

11/19/2007

Loan Approval Gross Amount

$870,000

Loan Approval from the SBA

Of the total $870,000 loan amount, the SBA guaranteed $652,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 15 employees. The SBA loan documents indicated that the loan would help retain 15 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Bethpage NY, you ought to talk with a local Bethpage SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bethpage businesses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

Related Links:

Family and Friend Investors - Your First Financiers

Find an SBA Lender in Warwick, Rhode Island

SBA Rhode Island Banks