Raising Money for Insurance Agencies and Brokerages

Looking for bank loans for insurance agencies and brokerages? An SBA loan may be just what you've been looking for. This $100,000 insurance agencies and brokerages loan was issued by a Florida bank.

Sunrise Insurance & Financial received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Colonial Bank, out of Miami, Florida. The loan was granted and they received $100,000 to help grow their Miami, Florida business.

SBA Loan Borrower

SUNRISE INSURANCE & FINANCIAL
16533 NW 57TH AVE
MIAMI, FL 33014

SBA Loan Lender

COLONIAL BANK
1200 BRICKELL AVE
MIAMI, FL 33131

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents, Brokers, and Service

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

8/29/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower, Sunrise Insurance & Financial, borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. This loan was paid in full, and was closed out on 12/2/2004.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Colonial Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

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