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Sotelo Agency Group, LLC

Austin, TX · Insurance Agencies and Brokerages · NAICS 524210

Sotelo Agency Group, LLC is an insurance agency and brokerage located in Austin, Texas. The company was financed with an SBA 7(a) loan for a change of ownership, in the amount of $732,500, approved by Bankwell Bank on November 20, 2024.

SBA 7(a) loan, change of ownership, approved Nov 20, 2024

$732,500 approvedLender: Bankwell Bank10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$732,500
SBA-guaranteed amount
$549,375 (75% of the approval)
Lender
Bankwell Bank, New Canaan, CT
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
10 years (120 months)
Estimated maturity
November 20, 2034 (estimated, approval date plus term)
Estimated monthly payment
$9,884 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 10, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
3
Business type
Corporation
NAICS
524210, Insurance Agencies and Brokerages
Project location
Travis County, TX
SBA district office
San Antonio District Office
Congressional district
TX-10
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 26% 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 Texas: $1,944,682.

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 Texas