Financing for Direct Insurance Carriers

Looking for loans for direct insurance carriers? The SBA may be the answer. This $15,000 direct insurance carriers loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salisbury, Maryland was able to borrow $15,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $12,750 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: DIRECT INSURANCE CARRIERS
SALISBURY, MD 21804

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

This lender issued this SBA loan under the SBA's 7A loan, 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.

NAICS Code

524128 - Direct Insurance Carriers

Loan Approval Date

8/1/2007

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $12,750.

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. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

Related Links:

Alternative Financing

Where to Get an SBA Loan in Oakland, California

SBA Lenders in California