Insurance Agencies and Brokerages acquisitions in Mississippi: SBA loan data
Since FY2018, SBA lenders have approved 17 7(a) loans to buy an existing business classified as Insurance Agencies and Brokerages in Mississippi, totaling $8.8M. The median loan was $400,000. That is 4.8% of the 354 acquisition loans in Mississippi.
The purchase agreement decides what you bought, not the loan approval.
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How this compares
The median Insurance Agencies and Brokerages loan in Mississippi is 39% lower than the $658,500 median for all Mississippi acquisitions, and 44% 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 2.6% of seasoned Mississippi acquisition loans of any type.
Insurance Agencies and Brokerages acquisition loans in Mississippi by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 1 | $350K | $350,000 | |
| FY2020 | 2 | $1.3M | $638,500 | |
| FY2021 | 1 | $630K | $630,000 | |
| FY2022 | 5 | $3.4M | $400,700 | |
| FY2023 | 2 | $1.2M | $602,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 3 | $1.2M | $350,000 | |
| FY2026 | 3 | $652K | $141,000 |
How often do these acquisition loans fail?
Fewer than 20 Insurance Agencies and Brokerages in Mississippi 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.
Seller note standby terms and third-party consents are reviewed before closing.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | United Midwest Savings Bank National Association | 3 | 17.6% | $2.2M | |
| 2 | Byline Bank | 3 | 17.6% | $1.5M | |
| 3 | Live Oak Banking Company | 3 | 17.6% | $891K | |
| 4 | Community Bank of Mississippi | 2 | 11.8% | $980K | |
| 5 | First Internet Bank of Indiana | 1 | 5.9% | $1M |
Top franchise brands
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Allstate Home Inspection | 1 | 5.9% | $100K |
Seller note standby terms and third-party consents are reviewed before closing.
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Questions buyers ask
How much do SBA loans for Insurance Agencies and Brokerages acquisitions in Mississippi run?
The median SBA 7(a) loan was $400,000 across 17 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 Mississippi?
United Midwest Savings Bank National Association (3), Byline Bank (3), Live Oak Banking Company (3), Community Bank of Mississippi (2), First Internet Bank of Indiana (1).
How often do Insurance Agencies and Brokerages acquisition loans fail in Mississippi?
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 Mississippi?
1 of the 17 loans (6%) involved a franchise brand, most often Allstate Home Inspection (1).
Terms signed in the LOI shape the purchase agreement that follows.
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Related
- All Mississippi acquisitions
- Financing one? How to get an SBA loan to buy an insurance agency
- Insurance Agencies and Brokerages nationally
- Insurance Agencies and Brokerages in Texas
- Insurance Agencies and Brokerages in Florida
- Insurance Agencies and Brokerages in California
- Insurance Agencies and Brokerages in Georgia
- Insurance Agencies and Brokerages in New York
- Insurance Agencies and Brokerages in North Carolina
- Insurance Agencies and Brokerages in Colorado
- Insurance Agencies and Brokerages in Alabama
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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.