March 2023
Issue 65
Veteran-Owned Family Business is Helped by the 504 Program
SBA 504 Effective Rates for March 2023
25-year – 6.33% / 6.35% Refi
20-year – 6.33% / 6.35% Refi
10-year – 6.78% / 6.45% Refi
Thank you to our Lending Partner on this Project:
Cameron McGinness is 100% owner of McGinness Family Insurance. They are an Allstate Agency and Cameron has owned the company since September 2019 after purchasing the business from his father. The agency offers insurance products for auto, home, condo, renters, motorcycle, business, life, ATV’s and boats.
Since purchasing the business, Cameron has consistently grown the agency. As a result, Allstate asked Cameron to be on the board of the Allstate District Growth counsel. This is a division within Allstate that helps other agents grow. Cameron’s office has received the Honor Ring as well as the National Conference Award, both from Allstate.
Veteran Accomplishments:
Cameron is a decorated military veteran. He served in the U.S. Marine Corps from February 2009 to February 2013. While in the military, he was deployed with, and supported, coalition forces in Afghanistan in 2010 and again in 2012. He received the Navy and Marine Corps Achievement Medal, the Navy Unit Commendation, the Marine Corps Good Conduct Medal, the National Defense Service Medal, the Afghanistan Campaign Medal (with 2-stars), the Global War on Terrorism Service Medal, and the Sea Service Deployment Ribbon.
After his honorable discharge from USMC, Cameron worked with his father at the Allstate Agency office from July 2017 until he purchased the business from his father in September 2019.
Veteran’s Business Helped by 504 Program:
NWBDA, along Heritage Bank, helped Cameron purchase a building for his growing practice. The SBA 504 Loan Program provided an option to control the business’ occupancy costs, with a small down payment and low fixed interest rate for the life of the loan, which is 25 years!
NWBDA is thrilled that we could assist Cameron in purchasing a building that he can call his own!
Visit His Website: https://agents.allstate.com/cameron-mcginness-everett-wa.html
Working with Cameron was an honor. His integrity and entrepreneurship is admirable, and his commitment to community was evident throughout the loan process.
Owning commercial property has always been a goal of mine. It is a great way to diversify my portfolio, hedge against inflation all while giving me the option to make it my own. The SBA 504 program, NWBDA and Heritage bank guided me to secure a commercial office for my Insurance Business. My team and my customers absolutely love our new location.
Left to right: Aliza Seay (NWBDA President), Elizabeth Rusnak (NWBDA Business Development Officer), & Cameron McGinness (Owner)
Eastern Washington/
Northern Idaho
Eric Sartell
esartell@nwbusiness.org
(509) 904-5169
Southwestern Washington/
North Oregon
Jim Bright
jbright@nwbusiness.org
(360) 521-5704
Western Washington
Elizabeth Rusnak
erusnak@nwbusiness.org
(425) 286-6673
Central Washington
Lisa Vincent
lvincent@nwbusiness.org
(509) 469-5040
Oregon
Evan Heriot
eheriot@nwbusiness.org
(541) 228-5015
Western Washington
Mark Beppler
mbeppler@nwbusiness.org
(425) 505-3263
February’s Loan Fundings
NWBDA funded 10 new
projects for the total amount
of $18,438,928
February’s Loan Approvals
NWBDA approved 2 new
projects for the total amount
of $10,500,282
In the month of February,
NWBDA helped create 37
new jobs in the local communities
info@nwbusiness.org
www.nwbusiness.org
(509) 458-8555 (800)
540-1748 (Toll Free)