Insurance Agencies and Brokerages Small Business Loans

Looking for small business loans for insurance agencies and brokerages? An SBA loan may be just what you've been looking for. This $50,000 insurance agencies and brokerages loan was issued by an Illinois bank.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Riverside Community Bank, out of Rockford, Illinois. The loan was granted and they received $50,000 to help grow their Roscoe, Illinois business.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
ROSCOE, IL 61073

SBA Loan Lender

RIVERSIDE COMMUNITY BANK
6855 E RIVERSIDE BLVD
ROCKFORD, IL 61114

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

11/29/2007

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 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.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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

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