SBA Loans for Insurance Agencies and Brokerages in Virginia: Top Lenders
NAICS 524NAICS 524 covers insurance agencies and brokerages businesses in Virginia. Based on historical SBA 7(a) lending data.
Total Approvals
6
in Virginia
Median Loan Size
$176,250
per approval
Recent Activity
0
last 90 days through Apr 2024
NAICS 524 covers insurance agencies and brokerages businesses. This is a smaller category in SBA 7(a) lending with 6 approvals on record and a median loan size of $176,250.
Key trends & insights
- Insurance Agencies and Brokerages in Virginia lending is concentrated — Bayfirst National Bank, United Midwest Savings Bank, National Association, MVB Bank, INC. together account for 50% of all approvals. If you're in this industry, these are your highest-probability lenders.
- Bayfirst National Bank leads this industry with 1 approvals (17% market share) and a median loan of $150,000.
- Insurance Agencies and Brokerages in Virginia loans skew smaller than the SBA average at $176,250 median (vs. ~$450,000 overall) — good news if you need a smaller amount and want to avoid lenders with high minimums.
- SBA data for this industry goes through 2024-04-20 — the SBA releases lending data on a quarterly lag, so recent activity may not yet be reflected.
Most active SBA lenders for Insurance Agencies and Brokerages in Virginia
| # | Lender | Approvals | Median Size |
|---|---|---|---|
| 1 | 1 | $150,000 | |
| 2 | 1 | $250,000 | |
| 3 | 1 | $202,500 | |
| 4 | 1 | $218,000 | |
| 5 | 1 | $150,000 | |
| 6 | 1 | $150,000 |
Recent SBA 7(a) approvals for Insurance Agencies and Brokerages in Virginia
| Month | Lender | Borrower | Location | Amount |
|---|---|---|---|---|
| 2024-04 | Lendistry SBLC, LLC | AKe*****LLC | CHESAPEAKE, VA | $150,000 |
| 2023-05 | BayFirst National Bank | Par*****LLC | FREDERICKSBURG, VA | $150,000 |
| 2023-02 | SNB Bank, National Association | Bey*****LLC | Centreville, VA | $150,000 |
| 2022-10 | United Midwest Savings Bank National Association | 360*****nc. | Richmond, VA | $250,000 |
| 2021-08 | U.S. Bank, National Association | Jam*****ger | ABINGDON, VA | $218,000 |
| 2021-08 | MVB Bank, Inc. | M &*****LLC | ALEXANDRIA, VA | $202,500 |
Source: Historical SBA 7(a) lending records. Borrower names partially masked for privacy.
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