Insurance Agencies and Brokerages Small Business Loans
With these small business loans for insurance agencies and brokerages, the SBA guarantees the lender that the loan will be repaid. This insurance agencies and brokerages loan for $557,000 was given to a California entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Valencia, California was able to borrow $557,000 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $361,052 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
VALENCIA, CA 91355
SBA Loan Lender
U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
524210 - Insurance Agencies and Brokerages
Loan Approval Date
9/19/2003
Loan Approval Gross Amount
$557,000
Loan Approval from the SBA
Of the total $557,000 loan amount, the SBA guaranteed $361,052.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 32 employees. The loan application indicated that the loan would help retain 32 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $557,000 loan. Remember, you control your own destiny.
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:
Debt Financing
SBA Participating Banks in Cincinnati, Ohio
Getting an SBA Loan in Ohio