Raising Money for Third Party Administration of Insurance and Pension Funds

With these business loans for third party administration of insurance and pension funds, the SBA guarantees the lender that the loan will be repaid. This third party administration of insurance and pension funds loan for $323,000 was given to an Arkansas entrepreneur in 2003.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Home Savings Bank, out of Mountain Grove, Missouri. The loan was granted and they received $323,000 to help grow their Maumelle, Arkansas business.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
MAUMELLE, AR 72113

SBA Loan Lender

FIRST HOME SAVINGS BANK
142 E 1ST ST
MOUNTAIN GROVE, MO 65711

This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents and Brokers

NAICS Code

524292 - Third Party Administration of Insurance and Pension Funds

Loan Approval Date

11/5/2003

Loan Approval Gross Amount

$323,000

Loan Approval from the SBA

Of the total $323,000 loan amount, the SBA guaranteed $242,250.

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 2 employees. The SBA loan application for the borrower 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 make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 First Home Savings Bank 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.

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SBA Participating Banks in Missouri