Schwartz Insurance Agency, LLC
Schwartz Insurance Agency, LLC is an insurance agency and brokerage located in Quincy, Illinois, classified under NAICS code 524210. The company was financed with an SBA 7(a) loan for a change of ownership of $1,039,000, approved on September 3, 2025 by Bankwell Bank.
SBA 7(a) loan, change of ownership, approved Sep 3, 2025
$1,039,000 approvedLender: Bankwell Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,039,000
- SBA-guaranteed amount
- $779,250 (75% of the approval)
- Lender
- Bankwell Bank, New Canaan, CT
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 3, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $13,730 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 23, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 3
- Business type
- Corporation
- NAICS
- 524210, Insurance Agencies and Brokerages
- Project location
- Adams County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-18
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 47% 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 Illinois: $1,796,780.
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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