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Insurance Agency Loans & Financing

Grasshopper can help elevate your business with seamless loan processes & dedicated support. 1

Apply for a SBA (7a) Loan

Is the loan amount you are seeking for your small business more or less than $200,000?

More than $200,000

At this time Grasshopper is not accepting applications for loans less than $200,000

Check out our partner that matches your funding amount below:

  • Fundera has helped 75,000 + small business owners secure funding
  • Loan amounts from $1K – $2M
  • Access to over 25 lenders
  • Funding as fast as same day
Learn More
  • Get approved and funded as soon as same day
  • Wide range of financing options to choose from
  • Loan amounts from $10k – $3M
  • Applying won’t impact your credit score
Learn More

Recommended by Industry Experts

Estimate Your Monthly Loan Payments

Borrowing can be a smart way to fund and grow your practice, but understanding the numbers is key. Our SBA 7(a) Loan Calculator helps you quickly estimate monthly payments, total interest, and overall cost so you can make informed financial decisions before you apply.

$

SBA 7(a) loans can reach $5 million, but some types of 7(a) may have smaller maximums.

7.25%

Maximum rates depend on the amount borrowed: 13.50% for less than $50,000; 13.00% for $50,001 to $250,000; 11.50% for $250,001 to $350,000; and 10.00% for more than $350,001.

SBA 7(a) loans terms can be up to 10 years for equipment, working capital or inventory loans and up to 25 years for real estate.

Apply for a SBA (7a) Loan

Is the loan amount you are seeking for your small business more or less than $200,000?

More Than $200,000

At this time Grasshopper is not accepting applications for loans less than $200,000

Check out our partner that matches your funding amount below:

  • Fundera has helped 75,000 + small business owners secure funding
  • Loan amounts from $1K – $2M
  • Access to over 25 lenders
  • Funding as fast as same day
Learn More
  • Get approved and funded as soon as same day
  • Wide range of financing options to choose from
  • Loan amounts from $10k – $3M
  • Applying won’t impact your credit score
Learn More

Forward-thinking featuresSBA 7(a) for Insurance Companies

If you are an insurance agent starting, expanding, or purchasing a business, the dedicated team at Grasshopper can help.

  • Quick Qualification

    Get qualified instantly with our cutting-edge digital application. Frictionless experience from start to submission with simplified documentation and faster verification.

  • Accelerated Timelines

    As a Small Business Administration (SBA) Preferred Lender, Grasshopper can accelerate the funding process getting your capital in your account faster.

  • Dedicated Support

    With decades of experience partnering with small businesses, our team prides itself on a seamless loan process. We’re available when you need us, and adapt with you.

Grasshopper SBA 7(a) Program

Agency Acquisition & Ownership Changes

Buying an existing agency: Financing the purchase of an existing insurance agency or book of business.

Real Estate: Purchase, Build-out, or Renovation

Commercial Real Estate: Buying the office suite or standalone building (must be at least 51% owner-occupied). Ground-up Construction: Financing the construction of a custom insurance agency. Leasehold Improvements: If renting, using the funds to "build out" the raw space.

Working Capital and Operational Expenses

Day-to-Day Cash: Covering payroll, rent, and supplies during the first few months of a startup or expansion. Marketing: Funding a major campaign to attract new patients to a new location.

Debt Refinancing

Many insurance agencies start with a significant amount of business debt. If the existing debt meets certain SBA criteria (e.g., it was used for business purposes and the new loan offers a 10% or better improvement in payment), the 7(a) can be used to consolidate and refinance that debt into one lower monthly payment.

Award-Winning Digital Banking Solutions

Best Use of Tech in Business Banking

Banking Tech Awards USA 2025

Best Use of Tech in Business Banking

Banking Tech Awards USA 2024

Best Risk Implementation

IBSi Global Fintech Innovation Awards 2024

Innovation in Integration

Narmi Innovation Awards 2024

Best Use of Tech in Business Banking

Banking Tech Awards USA 2023

Additional Agency Management Solutions

Beyond specialized financing, your business needs a seamless financial foundation to keep daily operations running smoothly. We provide a suite of integrated banking tools designed to optimize your cash flow and simplify office administration. From managing client payments to earning interest on your reserves, our solutions let you spend less time on paperwork and more time on growing your business.

  • Business Checking

    Simplify your revenue cycle with a high-performance account built for high-volume transactions and easy integration with your bookkeeping software.

    Learn More

  • Business Savings

    Put your retained earnings to work with competitive rates, ensuring your practice stays prepared for future equipment upgrades or tax obligations.

    Learn More

  • Business Debit Card

    Empower your office manager or handle supply procurement with ease using secure, flexible cards that offer real-time tracking of every practice expense.

    Learn More

Frequently Asked Questions

  • An SBA loan is a type of financing provided by private lenders but backed by the U.S. Small Business Administration (SBA), designed to support small businesses that may not meet traditional lending criteria. This government guarantee allows us to offer loans with more favorable terms, such as lower down payments, longer repayment periods, and competitive interest rates.

  • An SBA 7(a) loan can be used for a variety of purposes, including working capital, buying equipment or real estate or refinancing debt.

  • Applying for a loan does not guarantee automatic approval. Instead, you can undergo a pre-screen process where we gather preliminary information about your business. This helps us determine if you may qualify for an SBA 7(a) loan. Although this initial step is crucial, it does not assure approval, as the final decision depends on a comprehensive evaluation of all the required documentation, verification and loan criteria.

  • At this time, we are offering preapprovals for SBA 7(a) loans starting at $200,000 and up, catering to businesses ready to take their operations to the next level with substantial financial support.

  • In our application process, we conduct a soft pull to pre-qualify you for an SBA 7(a) loan, which does not impact your credit score.

Ready to drive your business forward?

Apply for an SBA 7(a) Loan Today!

© 2026 Grasshopper Bank, N.A. | Member FDIC. Equal Housing Lender | All rights reserved

1. Innovator Business Checking Annual Percentage Yield (APY) is accurate as of 11/03/2025. The minimum amount to open an account is $100.00. Rate tiers are as follows: 1.00% APY applies to balances of $0.01—$24,999.99. 1.35% APY applies to balances of $25,000-$250,000.00. 1.00 APY applies to balances of $250,000.01 and above. Rates may change after the account is opened. Fees may reduce earnings. National average interest rate for interest checking is 0.07% APY – source: www.fdic.gov.

Innovator Money Marketing Savings Annual Percentage Yield (APY) is accurate as of 11/03/2025. The minimum amount to open an account is $100.00. Rate tiers are as follows: 1.55% APY applies to balances of $0.01—$24,999.99.  3.10% APY applies to balances of $25,000 and up. Rates may change after the account is opened. Fees may reduce earnings.

2.Cash Back rewards offer 1.00% cash-back on all Qualified Purchases made by eligible Innovator Business Checking account holders. To qualify for the Cash Back reward of 1.00% cash-back in an Innovator Business Checking account, account holders must meet all requirements and a transaction must be deemed as a Qualified Purchase. Clients are required to maintain an average balance of $10,000 or more within the calendar month in their Innovator Business Checking account and the account must remain open, active, and in good standing to participate in the program, meaning: No NSF (non-sufficient funds) items during the preceding twelve calendar months. Grasshopper Bank reserves the right to modify the description of “good standing” at any time.

Qualified Purchases are signature-based purchases made with a Debit Card from an Innovator Business Checking Account. To make a signature-based purchase, select “credit” rather than debit at point-of-sale kiosks. The “credit” option is most often pre-selected when making purchases online using a debit card. Online subscription payments may not be considered signature-based purchases. The payment transaction type (signature-based or other) is ultimately decided by the merchant and how the transaction is transmitted to Grasshopper Bank at the time of processing. We reserve the right to determine if a transaction was a Qualified Purchase, and to establish additional types of Qualified Purchases that could be made available in a variety of ways. Any goods or services purchased with the Debit Card issued by Grasshopper Bank that are returned or otherwise credited to the account are not qualified purchases. Unlawful purchases and purchases of currency, cash or cash equivalents (including, without limitation, currency from the U.S. Mint, Travelers Cheques, gift cards, Cryptocurrency, Casino Chips, Peer to Peer Payments, prepaid debit cards, account openings, loan payments, or other cash equivalents) made with a Debit Card issued by Grasshopper Bank are not Qualified Purchases. We may require documentation to validate that certain purchases are Qualified Purchases. If you or the Bank closes the account for any reason before the end of the statement cycle, you will forfeit all rewards accrued through your linked Debit Card during that statement cycle.

Important Tax Information
The value of this reward may constitute taxable income and may be reported to the Internal Revenue Service as miscellaneous income to the first signer on the account, in the year received, as required by applicable law. Offer is limited to clients who are citizens of the United States that furnish or have a valid Form W-9 on file and the account must not be subject to backup withholding. You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) to you that reflects the value of such reward. Please consult your tax adviser, as Grasshopper Bank does not provide tax advice.

3. By opening an Innovator Business Checking account you have access to Grasshopper’s ICS Deposit product. If you choose to open a ICS Deposit account through Grasshopper Bank N.A. you deposit your funds into a deposit account at Grasshopper bank which sweeps those funds into deposit accounts across a network of FDIC-insured banks, for up to the current SMDIA of $250,000 per eligible depositor, per destination institution, for each ownership capacity or category, subject to applicable terms and conditions of Grasshopper’s ICS Deposit Placement Agreement. A sweep network is a secure network of partner banks that allows us to strategically distribute your ICS Deposit balances. This way, your funds are held by multiple trusted, FDIC-insured banks within the network, and you can manage your finances more confidently, knowing that your deposits are protected up to $125 million instead of the standard limit of $250,000, subject to change at any time by Grasshopper. Terms and restrictions apply. Subject to applicable rate sheet. Interest rates and yields are effective as per the date on the rate sheet and are subject to change without notice. See applicable rate sheets. See our Account Agreements and other applicable terms. Grasshopper Bank, N.A. uses a third-party vendor and agent to help administer this sweep process. Grasshopper Bank reserves the right to modify or discontinue this program for any reason without notice, except as otherwise expressly indicated.

4. The fee for outgoing domestic wire transfers for  Innovator Business Checking clients is $5.  See the full Innovator Business Checking fee schedule here. The national industry average for outgoing domestic wire transfers is $27. (source: https://www.bankrate.com/)

For full terms and conditions about our products and services, please refer to the Master Service Agreement.

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