Mang Family Insurance LLC
Mang Family Insurance LLC is an insurance agency and brokerage located in Youngstown, OH. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $500,000, approved on May 19, 2025, through Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved May 19, 2025
$500,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $500,000
- SBA-guaranteed amount
- $375,000 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 19, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $6,747 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 2, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 3
- Business type
- Corporation
- NAICS
- 524210, Insurance Agencies and Brokerages
- Project location
- Mahoning County, OH
- SBA district office
- Columbus District Office
- Congressional district
- OH-13
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Insurance Agencies and Brokerages: $1,528,335.
- Average acquisition loan in Ohio: $1,840,340.
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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