Copilot Insurance Inc.
Copilot Insurance Inc. is located in Issaquah, WA, and the SBA lists its industry as Insurance Agencies and Brokerages. It was approved for an SBA 7(a) loan of $1,133,000 for a change of ownership on May 21, 2024.
SBA 7(a) loan, change of ownership, approved May 21, 2024
- Gross approval
- $1,133,000
- SBA-guaranteed amount
- $849,750 (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
- May 21, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $15,768 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 4, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 524210, Insurance Agencies and Brokerages
- Project location
- King County, WA
- SBA district office
- Seattle District Office
- Congressional district
- WA-08
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 51% 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 Washington: $1,784,595.
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 Washington
- Chris Elliott Insurance Agency LLC, Seattle
- PJI, Inc., Silverdale