Financing for Direct Health and Medical Insurance Carriers

Looking for commercial loans for direct health and medical insurance carriers? Talk to a banker who works with the SBA. This $50,000 direct health and medical insurance carriers loan was issued by an Illinois bank.

This business knew how to go about getting a business bank loan. Based in Rockford, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Rockford Bank & Trust, based in Rockford, Illinois.

SBA Loan Borrower

COMPANY TYPE: DIRECT HEALTH AND MEDICAL INSURANCE CARRIERS
ROCKFORD, IL 61109

SBA Loan Lender

ROCKFORD BANK & TRUST
127 N WYMAN ST
ROCKFORD, IL 61101

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524114 - Direct Health and Medical Insurance Carriers

Loan Approval Date

8/26/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Rockford Bank & Trust 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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