Borrowing Money for Insurance Agencies and Brokerages

Looking for loans for insurance agencies and brokerages? Try the SBA. This $916,000 insurance agencies and brokerages loan was issued by a South Dakota bank.

Getting a small business loan in Watertown, South Dakota was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Premier Bank, operating out of Watertown, South Dakota. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
WATERTOWN, SD 57201

SBA Loan Lender

FIRST PREMIER BANK
1 E KEMP
WATERTOWN, SD 57201

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending track record and are well trained in SBA loan requirements.

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

12/19/2003

Loan Approval Gross Amount

$916,000

Loan Approval from the SBA

Of the total $916,000 loan amount, the SBA guaranteed $687,000.

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 9 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Premier Bank and they will explain how you can get an SBA loan for your company.

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:

The Friends and Family Network

Where to Get an SBA Loan in Watertown, South Dakota

Where to Get an SBA Loan South Dakota