Get an SBA Loan for Insurance Agencies and Brokerages

With these small business loans for insurance agencies and brokerages, the SBA guarantees the lender that the loan will be repaid. This insurance agencies and brokerages loan for $322,500 was given to a California entrepreneur in 2004.

This company knew how to go about getting a business bank loan. Based in Los Angeles, California, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Hanmi Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
LOS ANGELES, CA 90042

SBA Loan Lender

HANMI BANK
3660 WILSHIRE BLVD, PH-A
LOS ANGELES, CA 90010

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

1/30/2004

Loan Approval Gross Amount

$322,500

Loan Approval from the SBA

Of the total $322,500 loan amount, the SBA guaranteed $241,875.

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. The loan application indicated that the loan would help generate 4 new jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Hanmi Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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