Insurance Agencies and Brokerages acquisitions in Minnesota: SBA loan data
Since FY2018, SBA lenders have approved 18 7(a) loans to buy an existing business classified as Insurance Agencies and Brokerages in Minnesota, totaling $14M. The median loan was $534,300. That is 1.0% of the 1,778 acquisition loans in Minnesota.
Seller note standby terms and third-party consents are reviewed before closing.
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How this compares
The median Insurance Agencies and Brokerages loan in Minnesota is 19% higher than the $450,000 median for all Minnesota acquisitions, and 26% lower than the $720,000 median for Insurance Agencies and Brokerages acquisitions nationwide (832 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 3.1% of seasoned Insurance Agencies and Brokerages acquisition loans were charged off, and 3.2% of seasoned Minnesota acquisition loans of any type.
Insurance Agencies and Brokerages acquisition loans in Minnesota by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $375K | $375,000 | |
| FY2019 | 1 | $1.6M | $1,637,000 | |
| FY2020 | 3 | $1.4M | $484,600 | |
| FY2021 | 3 | $3.2M | $475,000 | |
| FY2022 | 1 | $162K | $162,000 | |
| FY2023 | 1 | $1.5M | $1,450,000 | |
| FY2024 | 2 | $1.3M | $642,500 | |
| FY2025 | 6 | $4.5M | $624,350 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Insurance Agencies and Brokerages in Minnesota acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
The purchase agreement decides what you bought, not the loan approval.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Old National Bank | 3 | 16.7% | $3.6M | |
| 2 | Live Oak Banking Company | 2 | 11.1% | $2.1M | |
| 3 | The Huntington National Bank | 2 | 11.1% | $1.9M | |
| 4 | Pathward National Association | 1 | 5.6% | $1.5M | |
| 5 | The First National Bank of Milaca | 1 | 5.6% | $1.2M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Farmers Insurance | 1 | 5.6% | $139K |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
Questions buyers ask
How much do SBA loans for Insurance Agencies and Brokerages acquisitions in Minnesota run?
The median SBA 7(a) loan was $534,300 across 18 loans (FY2018 to FY2026). The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Insurance Agencies and Brokerages acquisitions in Minnesota?
Old National Bank (3), Live Oak Banking Company (2), The Huntington National Bank (2), Pathward National Association (1), The First National Bank of Milaca (1).
How often do Insurance Agencies and Brokerages acquisition loans fail in Minnesota?
Fewer than 20 loans in this combination are old enough to measure losses reliably, so no rate is shown. The national benchmark for all SBA acquisition loans is 3.5% (FY2018 to FY2021 cohort).
Are franchised businesses part of Insurance Agencies and Brokerages acquisitions in Minnesota?
1 of the 18 loans (6%) involved a franchise brand, most often Farmers Insurance (1).
The purchase agreement decides what you bought, not the loan approval.
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Related
- All Minnesota acquisitions
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Small samples move a lot: each loan in this combination is 6% of the count. Industry is the NAICS code the lender recorded. See the methodology.