Main Street Registry

Shimon Agency Group Inc.

Fresh Meadows, NY · Insurance Agencies and Brokerages · NAICS 524210

Shimon Agency Group Inc. is an insurance agency and brokerage in Fresh Meadows, NY. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $627,000, through United Midwest Savings Bank National Association, with approval dated March 20, 2025.

SBA 7(a) loan, change of ownership, approved Mar 20, 2025

$627,000 approvedLender: United Midwest Savings Bank National Association10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$627,000
SBA-guaranteed amount
$470,250 (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
10%, variable
Term
10 years (120 months)
Estimated maturity
March 20, 2035 (estimated, approval date plus term)
Estimated monthly payment
$8,286 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Mar 31, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
524210, Insurance Agencies and Brokerages
Project location
Queens County, NY
SBA district office
New York District Office
Congressional district
NY-06
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 13% 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 York: $1,771,512.

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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