SBA 7(a) Loans for your Allstate Insurance Agency
When it comes to small business funding, a Small Business Administration 7(a) loan is one of the best ways to finance your Allstate Insurance Agency. An SBA loan or SBA 7(a) loan are one of the most popular types of financing for captive Allstate Agents looking for a small business loan.
- Purchase an Allstate Book of Business
- Start a new Allstate Insurance Agency
- Refinance Exiting Agency Debt
- Working Capital
McQue Capital is known as the leader in SBA loans for Allstate Insurance Agents. From 2005 to 2016, the SBA guaranteed nearly 5,000 SBA 7(a) loans with a total amount of nearly $950 million to captive insurance agencies and brokers.
The Allstate SBA 7(a) Loan Process
complete an Allstate Loan Application
Review your Allstate SBA 7(a) Loan options
Receive your Allstate SBA 7(a) Financing
As an Allstate Agency Owner, you'll own equity in the business you build, earn repeat revenue from policy renewals and enjoy the potential of unlimited earnings. To learn more about becoming more than just an agent, Visit the Allstate Insurance Agency Owner's Site.
Allstate SBA 7(A) Loans
The Small Business Administration (SBA) website is the authority in everything you need to qualify for an Allstate Insurance Agency SBA 7(a) or SBA 504 Loan for your Insurance Agency. Visit SBA.gov to learn more about the U.S. Small Business Administration and how they can help you start and grow your Allstate Insurance Agency.
- Maximum Loan Amount: $5 million
- Maximum SBA Guarantee %: 85% for loans up to $150,000 and 75% for loans greater than $150,000
- Interest Rate: Negotiated interest rate but cannot exceed the SBA maximum
- Eligibility Decision: By the SBA. Qualified Lender may granted authority (PLP) to make eligibility determinations without SBA review
- Revolving Lines of Credit: Up to 10 years
- SBA turnaround time: 5 - 10 business days
- Forms: SBA Form 1919 and SBA Form 1920 are required for every loan
Lenders are not required to take collateral for loans up to $25,000. For loans in excess of $350,000, the SBA requires that the lender collateralize the loan to the maximum extent possible up to the loan amount. If business fixed assets do not “fully secure” the loan the lender may include trading assets (using 10% of current book value for the calculation), and must take available equity in the personal real estate (residential and investment) of the principals as collateral.