Borrowing Money for Insurance Agencies and Brokerages

With these loans for insurance agencies and brokerages, the SBA guarantees the lender that the loan will be repaid. This insurance agencies and brokerages loan for $1,515,000 was given to a Wisconsin entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Eau Claire, Wisconsin was able to borrow $1,515,000 from Timberwood Bank. The SBA made the loan possible by guaranteeing $757,500 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE CARRIERS
EAU CLAIRE, WI 54702

SBA Loan Lender

TIMBERWOOD BANK
110 W VETERANS ST
TOMAH, WI 54660

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6399 - Insurance Carriers

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

11/16/2006

Loan Approval Gross Amount

$1,515,000

Loan Approval from the SBA

Of the total $1,515,000 loan amount, the SBA guaranteed $757,500.

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 23 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to 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.

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.

Related Links:

Understanding Dilution

Small Business Banks in Tomah, Wisconsin

Getting a Business Loan in Wisconsin