Compass Insurance Group, LLC
Compass Insurance Group, LLC, located in Spartanburg, SC, operates in the insurance agencies and brokerages industry. The company was financed with an SBA 7(a) loan for a change of ownership of $1.641 million, approved on August 24, 2025, by The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved Aug 24, 2025
$1,641,000 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,641,000
- SBA-guaranteed amount
- $1,230,750 (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
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- August 24, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $21,234 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 31, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 11
- Business type
- Corporation
- NAICS
- 524210, Insurance Agencies and Brokerages
- Project location
- Spartanburg County, SC
- SBA district office
- South Carolina District Office
- Congressional district
- SC-04
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 69% 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 South Carolina: $1,827,509.
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.
Is this your company? Claim or correct this listing. See Corrections.
Same industry in South Carolina
- Powell Agency LLC, Spartanburg
- Chris Foster Agency, Inc., Piedmont