How to Get a Loan for Insurance Agencies and Brokerages

Looking for commercial loans for insurance agencies and brokerages? Try the SBA. This $86,000 insurance agencies and brokerages loan was issued by a North Dakota bank.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Choice Financial Group, out of Grafton, North Dakota. The loan was granted and they received $86,000 to help grow their Grafton, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
GRAFTON, ND 58237

SBA Loan Lender

CHOICE FINANCIAL GROUP
645 HILL AVE
GRAFTON, ND 58237

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents and Brokers

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

10/17/2005

Loan Approval Gross Amount

$86,000

Loan Approval from the SBA

Of the total $86,000 loan amount, the SBA guaranteed $73,100.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Choice Financial Group and they will explain how you can get an SBA loan for your company.

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:

Small Business Loan

Find an SBA Lender in Grafton, North Dakota

North Dakota SBA 7A Lenders