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Veneziale Insurance Group LLC

Elizabeth City, NC · Insurance Agencies and Brokerages · NAICS 524210

Veneziale Insurance Group LLC, located in Elizabeth City, North Carolina, operates in the insurance agencies and brokerages industry. The company was financed with an SBA 7(a) loan for a change of ownership of $1,781,000, approved on July 10, 2024, through United Midwest Savings Bank National Association.

SBA 7(a) loan, change of ownership, approved Jul 10, 2024

$1,781,000 approvedLender: United Midwest Savings Bank National Association10 years termPaid in fullLoan details
Gross approval
$1,781,000
SBA-guaranteed amount
$1,335,750 (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
July 10, 2034 (estimated, approval date plus term)
Estimated monthly payment
$24,786 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jul 30, 2024
Loan status
Paid in full
Jobs supported
7
Business type
Corporation
NAICS
524210, Insurance Agencies and Brokerages
Project location
Pasquotank County, NC
SBA district office
North Carolina District Office
Congressional district
NC-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 73% 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 North Carolina: $1,952,444.

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 North Carolina