# Can insurance, advisory or mortgage firms get SBA loans?

**Short answer:** Many can. Independent insurance agents are not barred, fee-based financial advisors are eligible and mortgage servicers can qualify. Life insurance carriers and mortgage companies that hold loans in their own portfolio are ineligible. Source: SOP 50 10 8.1, Sec. A, Ch. 1, Para. E.2.

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Last checked: 2026-11-08

Many can, because the ban targets businesses whose product is money. SOP 50 10 8.1, Sec. A, Ch. 1, Para. E.2 separates the eligible from the ineligible.

## Insurance

Life insurance carriers are not eligible (13 CFR § 120.110(d)). Independent agents are outside the ban. SBA's size table lists insurance agencies and brokerages (NAICS 524210) at $15.0 million in receipts (13 CFR § 121.201).

## Financial advisors

A business providing financial advisor services on a fee basis is eligible. It cannot use loan proceeds to invest in its own portfolio of investments.

## Mortgage companies

- A mortgage company primarily engaged in servicing loans is eligible.
- A mortgage servicing company that disburses loans and sells them no later than 14 calendar days after closing is eligible.
- A mortgage company that makes loans and holds them in its portfolio is not eligible.

## Loan brokers and packagers

Loan packagers earning more than one-third of gross annual revenue from packaging SBA loans are ineligible (13 CFR § 120.110(m)). The SOP includes Lender Service Providers in that group.

## What lenders check

Form 1919, question 7, asks about revenue from lending and loan packaging. Have your revenue breakdown ready.

## Sources

- [13 CFR § 120.110(b), (d), (m)](https://www.ecfr.gov/current/title-13/section-120.110)
- [SOP 50 10 8.1, Sec. A, Ch. 1, Para. E.2 (p. 18)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [SOP 50 10 8.1, Sec. A, Ch. 1, Para. E, Loan Packagers (about p. 23)](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)
- [13 CFR § 121.201](https://www.ecfr.gov/current/title-13/section-121.201)
- [SBA Form 1919 (02/2025)](https://legacy.sba.gov/document/sba-form-1919-borrower-information-form)