How to Get a Loan for Insurance Agencies and Brokerages

Looking for business loans for insurance agencies and brokerages? The SBA may be the answer. This $125,000 insurance agencies and brokerages loan was issued by a Michigan bank.

This small business knew how to go about getting a business bank loan. Based in South Lyon, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Fifth Third Bank, based in Grand Rapids, Michigan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
SOUTH LYON, MI 48178

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

6411 - Insurance Agents and Brokers

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

4/17/2000

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $62,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

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SBA Participating Banks in Grand Rapids, Michigan

Where to Get an SBA Loan Michigan