We receive a lot of calls from agents about borrowing for acquisitions, debt consolidation, growth and other needs. We recently met a bank that has a great lending program that will change the way agency lending has been viewed over the years. Here are some highlights of the program:
Express loan program – Loans up to $75,000 via an express loan application that can typically turn around within 24 hours. These funds can be used for marketing expenses, consulting fees, technology hardware, software, or even upgrading office furniture.
Agency debt consolidation program – Agents can leverage the equity in their agency to consolidate business-related expenses. Loans up to 65% of annual revenue to improve cash flow and lower monthly expenditures.
Commercial real estate program – this conventional loan product provides loans up to $5 million for the purchase or refinance of commercial real estate. This is a 85% loan to value program, so agency owners will need a 15% down payment. Terms include six months no payment, 12 months interest-only option and a payment schedule of up to 25 years to keep payments affordable. Funds are also available to expand or remodel your agency.
Agency Acquisitions – Looking for a loan to purchase an insurance agency? Loans for insurance agency acquisitions are conventional financing, non-SBA, fixed rates, 10 year terms and up to 75K in working capital. Loans available $50,000 – $2,000,000.
Contact us for more info!
For more information on this program, please call 800-528-1325 or click here to have someone contact you within 24 hours.
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