How to Get a Loan for Insurance Related Activities

With these SBA loans for insurance related activities, the SBA guarantees the lender that the loan will be repaid. This insurance related activities loan for $125,000 was given to a Texas entrepreneur in 2003.

This small business knew how to go about getting a business bank loan. Based in Frisco, Texas, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First United Bank & Trust, based in Denton, Texas.

SBA Loan Borrower

COMPANY TYPE: INSURANCE RELATED ACTIVITIES
FRISCO, TX 75035

SBA Loan Lender

FIRST UNITED BANK & TRUST
416 W UNIVERSITY DR
DENTON, TX 76201

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524298 - Insurance Related Activities

Loan Approval Date

4/22/2003

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First United Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First United Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

VC Firms on Twitter

Best Banks in Denton, Texas

Texas SBA Bank Lenders