Alphin Insurance L.L.C.
Alphin Insurance L.L.C. is located in Cary, NC, and the SBA lists its industry as Insurance Agencies and Brokerages. It was approved for an SBA 7(a) loan of $974,000 for a change of ownership on February 16, 2024.
SBA 7(a) loan, change of ownership, approved Feb 16, 2024
- Gross approval
- $974,000
- SBA-guaranteed amount
- $730,500 (75% of the approval)
- Lender
- First Bank, Southern Pines, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 16, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $13,417 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Feb 29, 2024
- Loan status
- Paid in full
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 524210, Insurance Agencies and Brokerages
- Project location
- Wake County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 40% of acquisition loans in Insurance Agencies and Brokerages on this site.
- Average acquisition loan in Insurance Agencies and Brokerages: $1,528,335.
- Average acquisition loan in North Carolina: $1,952,444.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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Same industry in North Carolina
- Colonial Insurance Agency NC, LLC, Hillsborough
- Veneziale Insurance Group LLC, Elizabeth City
- Allcare Insurance Services and Howe Insurance, Shelby