1. How long is the underwriting process?
    • Underwriting insurance agency loans can take as little as 1 day to as many as 30 days depending upon the complexity of the individual request. Simple, small working capital loans can be underwritten relatively quickly. A multiple location, complex loan request will take longer.
  2. Are interest rates variable or fixed?
    • We offer both fixed and variable interest rate options.
  3. What are your loan minimums and maximums?
    • Our minimum loan amount is $20,000 and we have no maximum loan size.
  4. Do you place a lien on personal assets?
    • We only require collateral associated with your insurance agency.
  5. Do I have to have life insurance?
    • In most cases, yes. There are some instances where individual circumstances may allow for an exception to this.
  6. Do you lend to life, health or financial services agencies?
    • Not at this time.
  7. Do you lend to any business other than insurance agencies?
    • No, we lend exclusively to retail property and casualty agencies.
  8. What are your interest rates and terms?
    • We do not have a set rate and term schedule but we do offer many competitive rates and more repayment terms/loan products than any of our competitors.  After an initial discussion of your particular loan need we can specifically tailor a product that best suits your needs. Then we will be able to give you a range of interest rates and terms.  Your final rate and term will depend on the loan size, use of proceeds, and how the transaction as a whole underwrites.  
  9. Do I need to submit all of the requested items in order for you to approve or deny my loan?
    •  Yes, we do need all of the requested items as each one contains important information that is needed.  If you have any questions as to why a particular item is needed, we would be glad to explain it to you.