Getting an SBA Loan for Insurance Agencies and Brokerages

Looking for SBA loans for insurance agencies and brokerages? The SBA may be the answer. This $93,500 insurance agencies and brokerages loan was issued by a Colorado bank.

Getting a small business loan in Greenwood Village, Colorado was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Citywide Banks, operating out of Aurora, Colorado. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
GREENWOOD VILLAGE, CO 80111

SBA Loan Lender

CITYWIDE BANKS
10660 E COLFAX AVE
AURORA, CO 80010

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

4/25/2003

Loan Approval Gross Amount

$93,500

Loan Approval from the SBA

Of the total $93,500 loan amount, the SBA guaranteed $79,475.

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 SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citywide Banks had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citywide Banks 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:

Obtaining Funding - How to Borrow Money

Where to Get an SBA Loan in Aurora, Colorado

Colorado SBA Bank Lenders