Main Street Registry

Tedrick Insurance Agency, Inc.

Mount Vernon, IL · Insurance Agencies and Brokerages · NAICS 524210

Tedrick Insurance Agency, Inc. is an insurance agency and brokerage located in Mount Vernon, Illinois, in the insurance agencies and brokerages industry. The business was financed with an SBA 7(a) loan for a change of ownership of $5 million, approved on January 21, 2026 by Peoples National Bank National Association. The loan was reported with 16 jobs.

SBA 7(a) loan, change of ownership, approved Jan 21, 2026

$5,000,000 approvedLender: Peoples National Bank National Association10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
Peoples National Bank National Association, Mcleansboro, IL
Processing method
Standard 7(a): the lender submits the application for SBA review
Initial interest rate
8.25%, variable
Term
10 years (120 months)
Estimated maturity
January 21, 2036 (estimated, approval date plus term)
Estimated monthly payment
$61,326 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 18, 2026
Loan status
Status not reported (SBA exemption)
Jobs supported
16
Business type
Corporation
NAICS
524210, Insurance Agencies and Brokerages
Project location
Jefferson County, IL
SBA district office
Illinois District Office
Congressional district
IL-12
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 97% 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 Illinois: $1,796,780.

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 Illinois