How much do SBA lenders typically lend to a direct life insurance carriers business?

The median SBA approval in NAICS 524113 is $55,000, with the middle 80% of loans between $15,000 and $268,000. Across all industries the median is $180,000.

Which lenders are most active in direct life insurance carriers?

By dollars approved: Live Oak Banking Company, First Interstate Bank, Macatawa Bank, PNC Bank, The Huntington National Bank. A lender's experience in your NAICS code matters - underwriters who have seen a hundred deals like yours ask better questions and move faster.

Is direct life insurance carriers considered a risky industry by SBA lenders?

Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 6.3% were charged off, versus 7.6% across all SBA lending. That is close to average.

NAICS 524113 · Finance & Insurance

SBA loans for direct life insurance carriers

83 SBA loans worth $11.7M have been approved in this industry since FY2010 - the #735 most-financed NAICS code in the country.

Median loan

$55,000

-69% vs all industries

Typical range

$15K-$268K

Middle 80%

Median rate

7.00%

7(a) initial note rate

Median term

7 yr

Charge-off rate

6.3%

vs 7.6% all industries

Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.

Lenders

Most active in this industry

Lender	Loans	Approved
Live Oak Banking Company	2	$3.5M
First Interstate Bank	5	$1.0M
Macatawa Bank	1	$670K
PNC Bank	17	$580K
The Huntington National Bank	5	$534K
Manufacturers and Traders Trust Company	9	$474K
KeyBank	3	$447K
Bank of Utah	1	$446K
Stearns Bank	3	$393K
Truist Bank	1	$350K

Geography

Where these loans were made

State	Loans	Share
Texas	16
New York	10
Arizona	5
Florida	5
Indiana	5
Washington	4
Minnesota	4
Pennsylvania	3

Approvals by fiscal year

’10

’11

’13

’14

’15

’16

’17

’18

’19

’20

’22

’23

’26

Loan count. Final bar is a partial fiscal year.

Loan sizes

Under $50K
43%
$50K - $150K
30%
$150K - $350K
20%
$350K - $1M
5%
Over $2M
1%

Nearby

Other finance & insurance industries

See the sector

Insurance Agencies and Brokerages10,623 · $171,000 Investment Advice2,974 · $264,500 Portfolio Management and Investment Advice737 · $250,000 Mortgage and Nonmortgage Loan Brokers493 · $182,000 Miscellaneous Financial Investment Activities411 · $187,500 All Other Insurance Related Activities401 · $100,000 Portfolio Management392 · $225,500 Financial Transactions Processing, Reserve, and Clearinghouse Activities280 · $250,000

Common questions

How much do SBA lenders typically lend to a direct life insurance carriers business?: The median SBA approval in NAICS 524113 is $55,000, with the middle 80% of loans between $15,000 and $268,000. Across all industries the median is $180,000.
Which lenders are most active in direct life insurance carriers?: By dollars approved: Live Oak Banking Company, First Interstate Bank, Macatawa Bank, PNC Bank, The Huntington National Bank. A lender's experience in your NAICS code matters - underwriters who have seen a hundred deals like yours ask better questions and move faster.
Is direct life insurance carriers considered a risky industry by SBA lenders?: Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 6.3% were charged off, versus 7.6% across all SBA lending. That is close to average.

We are a publisher, not a lender or broker. We never take applications and are never paid by borrowers. Read the full disclosures.