Where to Get Capital for Insurance Agencies and Brokerages

With these small business loans for insurance agencies and brokerages, the SBA guarantees the lender that the loan will be repaid. This insurance agencies and brokerages loan for $25,500 was given to a California entrepreneur in 2001.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $25,500 to help grow their Canoga Park, California business.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
CANOGA PARK, CA 91306

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

9/18/2001

Loan Approval Gross Amount

$25,500

Loan Approval from the SBA

Of the total $25,500 loan amount, the SBA guaranteed $12,750.

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 8 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 8 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Bank Of America 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.

Related Links:

Obtaining Funding - Friends and Family

Find an SBA Lender in Charlotte, North Carolina

Getting an SBA Loan in North Carolina