Getting an SBA Loan for Insurance Agencies and Brokerages

Looking for commercial loans for insurance agencies and brokerages? Talk to a banker who works with the SBA. This $180,500 insurance agencies and brokerages loan was issued by an Alabama bank.

Getting a small business loan in Plantation, Florida was important for this business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Wachovia Bank, operating out of Birmingham, Alabama. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
PLANTATION, FL 33317

SBA Loan Lender

WACHOVIA BANK
420 N 20TH ST
BIRMINGHAM, AL 35203

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA 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

1/20/2000

Loan Approval Gross Amount

$180,500

Loan Approval from the SBA

Of the total $180,500 loan amount, the SBA guaranteed $135,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wachovia Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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