FidFam Insurance LLC
FidFam Insurance LLC, located in Gilbert, Arizona, operates in the insurance agencies and brokerages industry. The business was financed with an SBA 7(a) loan for a change of ownership totaling $894,000, approved by First Bank of Central Ohio on July 26, 2024.
SBA 7(a) loan, change of ownership, approved Jul 26, 2024
$894,000 approvedLender: First Bank of Central Ohio10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $894,000
- SBA-guaranteed amount
- $670,500 (75% of the approval)
- Lender
- First Bank of Central Ohio, Worthington, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- July 26, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $12,189 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Aug 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 524210, Insurance Agencies and Brokerages
- Project location
- Maricopa County, AZ
- SBA district office
- Arizona District Office
- Congressional district
- AZ-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 37% 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 Arizona: $1,690,811.
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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