Higgins Insurance LLC
Higgins Insurance LLC is an insurance agencies and brokerages business located in Londonderry, NH, classified under NAICS code 524210. It was financed with an SBA 7(a) loan for a change of ownership of $513,000, approved on June 24, 2024, through United Midwest Savings Bank National Association.
SBA 7(a) loan, change of ownership, approved Jun 24, 2024
$513,000 approvedLender: United Midwest Savings Bank National Association10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $513,000
- SBA-guaranteed amount
- $384,750 (75% of the approval)
- Lender
- United Midwest Savings Bank National Association, De Graff, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- June 24, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $7,139 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 28, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 524210, Insurance Agencies and Brokerages
- Project location
- Rockingham County, NH
- SBA district office
- New Hampshire District Office
- Congressional district
- NH-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 5% 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 New Hampshire: $1,811,437.
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 New Hampshire
- Ethan P. Clark Insurance, LLC, Stratham