Which lenders are a good match for an Insurance Agencies and Brokerages SBA loan?
Insurance Agencies and Brokerages project state SBA 7(a) loan approvals in 2020.
Insurance Agencies and Brokerages Industry Highlights
In 2020 the Insurance Agencies and Brokerages industry ranked #13 in SBA 7(a) number of loan approvals and was the #7 ranked industry for loan approval amounts.
All-time there have been 1,043 lenders who have approved 10,451 SBA 7(a) loan approvals to Insurance Agencies and Brokerages businesses for $2,540,102,043. Loan approvals went to borrowers from 2,950 cities for projects in 50 states.
In 2020 Insurance Agencies and Brokerages businesses received 607 SBA 7(a) loan approvals from 178 lenders for $371,310,400. The average loan approval amount in 2020 was $611,714. Approvals went to borrowers from 457 cities for projects in 48 states.
For 2020 franchised Insurance Agencies and Brokerages SBA lending there were 23 lenders who approved 27 SBA 7(a) loans for $10,776,000 for an average loan amount of $399,111.
Our forecast model projects the Insurance Agencies and Brokerages industry receiving $328 million in SBA 7(a) approvals in 2021.
Read our Industry page on Insurance Agencies and Brokerages SBA lending for a full report, but below are a few highlights:
Historical SBA 7(a) Lending for the Insurance Agencies and Brokerages Industry
2020 Top 25 SBA Lenders
Insurance Agencies and Brokerages
Loan Approvals
Approval Amounts
Insurance Agencies and Brokerages SBA 7(a) Loan Amounts
Average SBA 7(a) loan approval amount in 2020 was $611,714.
54.86% of approved loans in 2020 were for loan amounts up to $350,000.
27.68% of approved loans in 2020 were for loan amounts up to $150,000.
17.63% of approved loans in 2020 were for loan amounts over $1 million.
6.26% of loan approvals were for multi-million loan amounts.
Insurance Agencies and Brokerages SBA 7(a) Lending Forecast
Our forecast model projects the Insurance Agencies and Brokerages industry receiving $328 million in SBA 7(a) approvals in 2021.
See our full (and free) SBA report on Insurance Agencies and Brokerages
This report has about everything a small business owner would want to know about SBA 7(a) loans to Insurance Agencies and Brokerages. See the 2020 top ranked lenders and franchise brands by loan amounts, default data, our SBA lending forecasts, the top project states and borrower cities, and more.
