Swenson Insurance Agency L.L.C.
Swenson Insurance Agency L.L.C., located in Long Lake, Minnesota, operates in the insurance agencies and brokerages industry (NAICS 524210). The company was financed with an SBA 7(a) loan for a change of ownership of $1.833 million, approved on April 15, 2025, through The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved Apr 15, 2025
$1,833,000 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,833,000
- SBA-guaranteed amount
- $1,374,750 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 7.99%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- April 15, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $22,230 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
- 19
- Business type
- Corporation
- NAICS
- 524210, Insurance Agencies and Brokerages
- Project location
- Hennepin County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 74% 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 Minnesota: $1,482,119.
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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