Main Street Registry

Kao Vang Insurance Agency Inc

Carmichael, CA · Insurance Agencies and Brokerages · NAICS 524210

Kao Vang Insurance Agency Inc is an insurance agencies and brokerages business located in Carmichael, CA. It was financed with an SBA 7(a) loan for a change of ownership of $692,500, approved on February 24, 2024, through The Huntington National Bank.

SBA 7(a) loan, change of ownership, approved Feb 24, 2024

$692,500 approvedLender: The Huntington National Bank10 years termCommitted, not fully disbursedLoan details
Gross approval
$692,500
SBA-guaranteed amount
$519,375 (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
10.5%, variable
Term
10 years (120 months)
Estimated maturity
February 24, 2034 (estimated, approval date plus term)
Estimated monthly payment
$9,344 Estimated payment at the initial rate over the full term; actual terms vary.
Loan status
Committed, not fully disbursed
Jobs supported
4
Business type
Corporation
NAICS
524210, Insurance Agencies and Brokerages
Project location
Sacramento County, CA
SBA district office
Sacramento District Office
Congressional district
CA-07
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 19% 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 California: $1,688,228.

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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