Financing for Insurance Agencies and Brokerages

Looking for commercial loans for insurance agencies and brokerages? Try the SBA. This $149,600 insurance agencies and brokerages loan was issued by a Texas bank.

This business knew how to go about getting a business bank loan. Based in Dallas, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Citizens National Bank - Texas, based in Midlothian, Texas.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
DALLAS, TX 75214

SBA Loan Lender

CITIZENS NATIONAL BANK - TEXAS
1021 E HWY 287
MIDLOTHIAN, TX 76065

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

11/1/2002

Loan Approval Gross Amount

$149,600

Loan Approval from the SBA

Of the total $149,600 loan amount, the SBA guaranteed $127,160.

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 application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $149,600. How would you spend $149,600 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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