Insurance Agent Loans

April 24, 2015

INSURANCE AGENT LOANS

Insurance Agent Loan has a lending platform of over 10 funding sources that "understand" how insurance agents operate their business and cash flow.  Bill Friend and Sam Patterson jointly own Insurance Agent Loan.  Sam Patterson initially  underwrites the agency risk through Springtree Group and Bill Friend provides sales and marketing through Premium Finance Associates.  "We see the market heating up as many insurance agents are reaching retirement age as the average insurance agent is 60 years old" says Bill Friend.  The aggregate of independent agents coupled with select Allstate, Farmers and Nationwide agents totals around 400,000. 

Typically, an insurance agent will purchase a local agency and go to their local bank to request financing.  After a few weeks of meetings go by, the banker confesses that they cannot finance the agency due to the lack of "hard assets."  "We get quite a few calls from agents on broken deals," says Sam Patterson.  "Most of our job is educating and advising  insurance agents and get them back on track."  While some standard agencies have an 88% - 92% renewal rate or higher, the lack of hard assets ruins the hope of financing most insurance agencies. 

At Insurance Agent Loan, we offer a straight forward solution for most agents.  Simply complete and submit our LIF - Loan Intake Form - Online at info@insuranceagenctloan.com to schedule an initial no cost consultation.  We look forward to the privilege of earning your business...

Best Regards - 

Bill Friend, Principal
7603 First Place Dr., B-12
Cleveland, Oh. 44146
866.FRIEND.0 (374.3630)
866.839.3090 fax
216.225.4321 cell
**INSURANCE AGENT LOANS - BUSINESS LOANS for Acquisition, Perpetuation and Capitalization.  

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