Insurance Agencies and Brokerages acquisitions in Ohio: SBA loan data
Since FY2018, SBA lenders have approved 20 7(a) loans to buy an existing business classified as Insurance Agencies and Brokerages in Ohio, totaling $14.9M. The median loan was $414,250. That is 1.1% of the 1,821 acquisition loans in Ohio.
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How this compares
The median Insurance Agencies and Brokerages loan in Ohio is 25% lower than the $549,000 median for all Ohio acquisitions, and 42% 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 1.9% of seasoned Ohio acquisition loans of any type.
Insurance Agencies and Brokerages acquisition loans in Ohio by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $2.9M | $96,400 | |
| FY2019 | 5 | $1.4M | $300,000 | |
| FY2020 | 2 | $891K | $445,250 | |
| FY2021 | 2 | $1.1M | $547,250 | |
| FY2022 | 1 | $497K | $496,900 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 1 | $720K | $720,000 | |
| FY2025 | 2 | $1.9M | $940,100 | |
| FY2026 | 4 | $5.5M | $536,000 |
How often do these acquisition loans fail?
Fewer than 20 Insurance Agencies and Brokerages in Ohio 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.
Terms signed in the LOI shape the purchase agreement that follows.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 6 | 30.0% | $4.6M | |
| 2 | Mechanics and Farmers Bank | 3 | 15.0% | $1M | |
| 3 | United Midwest Savings Bank National Association | 2 | 10.0% | $785K | |
| 4 | Optus Bank | 2 | 10.0% | $686K | |
| 5 | The Huntington National Bank | 2 | 10.0% | $151K |
Top franchise brands
No franchise brands recorded in this combination.
Terms signed in the LOI shape the purchase agreement that follows.
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Questions buyers ask
How much do SBA loans for Insurance Agencies and Brokerages acquisitions in Ohio run?
The median SBA 7(a) loan was $414,250 across 20 loans (FY2018 to FY2026), with the middle half between $229,125 and $667,500. 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 Ohio?
Live Oak Banking Company (6), Mechanics and Farmers Bank (3), United Midwest Savings Bank National Association (2), Optus Bank (2), The Huntington National Bank (2). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Insurance Agencies and Brokerages acquisition loans fail in Ohio?
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 Ohio?
None of the 20 loans in this combination were recorded with a franchise brand.
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- All Ohio acquisitions
- Insurance Agencies and Brokerages nationally
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Small samples move a lot: each loan in this combination is 5% of the count. Industry is the NAICS code the lender recorded. See the methodology.