Insurance Agencies and Brokerages acquisitions in Washington: SBA loan data
Since FY2018, SBA lenders have approved 19 7(a) loans to buy an existing business classified as Insurance Agencies and Brokerages in Washington, totaling $16.7M. The median loan was $693,000. That is 0.9% of the 2,006 acquisition loans in Washington.
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How this compares
The median Insurance Agencies and Brokerages loan in Washington is in line with the $675,000 median for all Washington acquisitions, and in line with 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 3.4% of seasoned Washington acquisition loans of any type.
Insurance Agencies and Brokerages acquisition loans in Washington by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 3 | $3.5M | $795,000 | |
| FY2020 | 6 | $3.9M | $450,250 | |
| FY2021 | 5 | $6M | $1,127,600 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 1 | $801K | $801,000 | |
| FY2024 | 3 | $1.7M | $500,000 | |
| FY2025 | 1 | $763K | $763,000 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Insurance Agencies and Brokerages in Washington 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.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | United Bank of Philadelphia | 4 | 21.1% | $2M | |
| 2 | United Midwest Savings Bank National Association | 2 | 10.5% | $2.8M | |
| 3 | Banner Bank | 2 | 10.5% | $1.3M | |
| 4 | Pathward National Association | 2 | 10.5% | $1.3M | |
| 5 | Mechanics and Farmers Bank | 1 | 5.3% | $2.7M |
Top franchise brands
No franchise brands recorded in this combination.
The purchase agreement decides what you bought, not the loan approval.
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Questions buyers ask
How much do SBA loans for Insurance Agencies and Brokerages acquisitions in Washington run?
The median SBA 7(a) loan was $693,000 across 19 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 Washington?
United Bank of Philadelphia (4), United Midwest Savings Bank National Association (2), Banner Bank (2), Pathward National Association (2), Mechanics and Farmers Bank (1).
How often do Insurance Agencies and Brokerages acquisition loans fail in Washington?
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 Washington?
None of the 19 loans in this combination were recorded with a franchise brand.
The purchase agreement decides what you bought, not the loan approval.
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Related
- All Washington 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 5% of the count. Industry is the NAICS code the lender recorded. See the methodology.