Insurance Agencies and Brokerages acquisitions in Utah: SBA loan data
Since FY2018, SBA lenders have approved 10 7(a) loans to buy an existing business classified as Insurance Agencies and Brokerages in Utah, totaling $9.9M. The median loan was $963,750. That is 1.4% of the 708 acquisition loans in Utah.
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 Utah is 56% higher than the $617,950 median for all Utah acquisitions, and 34% higher 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 4.8% of seasoned Utah acquisition loans of any type.
Insurance Agencies and Brokerages acquisition loans in Utah by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $1.2M | $1,185,000 | |
| FY2019 | 1 | $243K | $243,000 | |
| FY2020 | 2 | $3.1M | $1,571,250 | |
| FY2021 | 2 | $1.7M | $831,100 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 2 | $2M | $992,500 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 2 | $1.7M | $860,000 |
How often do these acquisition loans fail?
Fewer than 20 Insurance Agencies and Brokerages in Utah 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 | Live Oak Bank | 4 | 40.0% | $4.5M | |
| 2 | United Midwest Savings Bank | 3 | 30.0% | $4.1M | |
| 3 | BMO Bank | 1 | 10.0% | $743K | |
| 4 | SNB Bank | 1 | 10.0% | $350K | |
| 5 | KeyBank | 1 | 10.0% | $243K |
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 Utah run?
The median SBA 7(a) loan was $963,750 across 10 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 Utah?
Live Oak Bank (4), United Midwest Savings Bank (3), BMO Bank (1), SNB Bank (1), KeyBank (1).
How often do Insurance Agencies and Brokerages acquisition loans fail in Utah?
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 Utah?
None of the 10 loans in this combination were recorded with a franchise brand.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- All Utah 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
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- Insurance Agencies and Brokerages in North Carolina
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Small samples move a lot: each loan in this combination is 10% of the count. Industry is the NAICS code the lender recorded. See the methodology.