How much do SBA lenders typically lend to a insurance agencies and brokerages business?

The median SBA approval in NAICS 524210 is $171,000, with the middle 80% of loans between $25,000 and $983,300. Across all industries the median is $180,000.

Which lenders are most active in insurance agencies and brokerages?

By dollars approved: Live Oak Banking Company, United Midwest Savings Bank, Pathward, U.S. Bank, Bankwell 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 insurance agencies and brokerages considered a risky industry by SBA lenders?

Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 4.8% were charged off, versus 7.6% across all SBA lending. That is below average, which generally makes lenders more comfortable with the sector.

NAICS 524210 · Finance & Insurance

SBA loans for insurance agencies and brokerages

10,623 SBA loans worth $4.15B have been approved in this industry since FY2010 - the #18 most-financed NAICS code in the country.

Median loan

$171,000

-5% vs all industries

Typical range

$25K-$983K

Middle 80%

Median rate

6.75%

7(a) initial note rate

Median term

10 yr

Charge-off rate

4.8%

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	625	$556.7M
United Midwest Savings Bank	241	$214.2M
Pathward	198	$184.4M
U.S. Bank	656	$176.5M
Bankwell Bank	77	$156.6M
Byline Bank	131	$111.1M
Wells Fargo Bank	291	$105.5M
The Huntington National Bank	509	$88.0M
Readycap Lending, LLC	231	$85.4M
Newtek Bank	170	$68.0M

Geography

Where these loans were made

State	Loans	Share
California	1,238
Texas	969
Florida	928
New York	624
Ohio	461
Michigan	350
Illinois	349
Pennsylvania	332

Approvals by fiscal year

’10

’11

’12

’13

’14

’15

’16

’17

’18

’19

’20

’21

’22

’23

’24

’25

’26

Loan count. Final bar is a partial fiscal year.

Loan sizes

Under $50K
17%
$50K - $150K
26%
$150K - $350K
25%
$350K - $1M
22%
$1M - $2M
7%
Over $2M
3%

Nearby

Other finance & insurance industries

See the sector

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 Claims Adjusting254 · $110,500

Common questions

How much do SBA lenders typically lend to a insurance agencies and brokerages business?: The median SBA approval in NAICS 524210 is $171,000, with the middle 80% of loans between $25,000 and $983,300. Across all industries the median is $180,000.
Which lenders are most active in insurance agencies and brokerages?: By dollars approved: Live Oak Banking Company, United Midwest Savings Bank, Pathward, U.S. Bank, Bankwell 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 insurance agencies and brokerages considered a risky industry by SBA lenders?: Of FY2010-FY2019 approvals in this industry that have reached a terminal status, 4.8% were charged off, versus 7.6% across all SBA lending. That is below average, which generally makes lenders more comfortable with the sector.

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