Insurance Agencies and Brokerages SBA Loans

Looking for SBA loans for insurance agencies and brokerages? Talk to a banker who works with the SBA. This $50,000 insurance agencies and brokerages loan was issued by a Maryland bank.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Presidential Bank, Fsb, out of Bethesda, Maryland. The loan was granted and they received $50,000 to help grow their Washington, District of Columbia business.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
WASHINGTON, DC 20003

SBA Loan Lender

PRESIDENTIAL BANK, FSB
4520 EAST-WEST HWY
BETHESDA, MD 20814

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents and Brokers

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

2/22/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

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 3 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

We can help you find the best banks for small businesses in Washington or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Obtaining Funding - How to Borrow Money

SBA 7A Lenders in Bethesda, Maryland

Getting a Business Loan in Maryland