Insurance Agency
Case Overview
Reason: Business Expansion
Funding Amount: $500,000
Approval: $500,000
Industry: Insurance Agency
Use of Funds: Business Expansion
Program Type: SBA
The Story
Careem Roberts joins us once again to highlight an SBA deal he was able to secure $500,000 in 12 business days. He discusses the client's growth goals, the paperwork needed for the SBA 7(A), and how an SBA 7(A) was beneficial to the client for their business expansion plans.
The Details
The Client
The client is a business owner operating within the insurance industry.
At the time of engagement, her business was in a growth phase, aiming to expand operations by hiring additional employees, acquiring more equipment, and relocating to a new location.
The Situation
To facilitate this expansion, she required substantial capital to cover the associated costs.
She sought a financing solution that would provide a significant loan amount with manageable repayment terms to avoid straining her cash flow during the transition period.
The Solution
Capital Infusion assisted her in securing a $500,000 loan through the SBA 7(a) program
The loan carried an annual interest rate of approximately 11% and was structured with monthly payments of around $7,000.
The client was well-prepared, promptly providing all necessary documentation, which enabled the loan to be closed in a record time of 12 business days.
Upon receiving the funds, she successfully implemented her expansion plans, achieving her business growth objectives.