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The Gray Group Insurance Brokerage Inc.

Denton, TX · Insurance Agencies and Brokerages · NAICS 524210

The Gray Group Insurance Brokerage Inc. is an insurance agency and brokerage located in Denton, TX, under NAICS code 524210. It was financed with an SBA 7(a) loan for a change of ownership of $1.65 million, approved on May 14, 2024, by Live Oak Banking Company.

SBA 7(a) loan, change of ownership, approved May 14, 2024

$1,650,000 approvedLender: Live Oak Banking Company139 months termPaid in fullLoan details
Gross approval
$1,650,000
SBA-guaranteed amount
$462,000 (28% of the approval)
Lender
Live Oak Banking Company, Wilmington, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.67%, variable
Term
11 years, 7 months (139 months)
Estimated maturity
December 14, 2035 (estimated, approval date plus term)
Estimated monthly payment
$19,778 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 3, 2024
Loan status
Paid in full
Jobs supported
2
Business type
Corporation
NAICS
524210, Insurance Agencies and Brokerages
Project location
Denton County, TX
SBA district office
Dallas / Ft Worth District Office
Congressional district
TX-26
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 70% 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 Texas: $1,944,682.

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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