Powell Agency LLC
Powell Agency LLC is located in Spartanburg, SC, and the SBA lists its industry as Insurance Agencies and Brokerages. It was approved for an SBA 7(a) loan of $584,500 for a change of ownership on June 23, 2026.
SBA 7(a) loan, change of ownership, approved Jun 23, 2026
- Gross approval
- $584,500
- SBA-guaranteed amount
- $438,375 (75% of the approval)
- Lender
- TowneBank, Portsmouth, VA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- June 23, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $7,563 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 30, 2026
- Loan status
- Status not reported (SBA exemption)
- 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 11% 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.
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Same industry in South Carolina
- Chris Foster Agency, Inc., Piedmont
- Compass Insurance Group, LLC, Spartanburg