AgileCap’s Guide to Recognizing Bad Loans
We don’t want to see one more agency fall victim to predatory lending practices, so we offer this guide to "Recognizing Bad Loans" so agency owners can avoid the perils of ‘easy’ money and bad loans.
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We don’t want to see one more agency fall victim to predatory lending practices, so we offer this guide to "Recognizing Bad Loans" so agency owners can avoid the perils of ‘easy’ money and bad loans.
Traditional lenders require fixed assets to back their loans. But specialty lenders like AgileCap consider your insurance agency’s book of business to be collateral.
Taking out a business loan is a big decision, especially if you - like many business owners - are already carrying some debt.
Borrowing money for growth can be a winning proposition if you borrow carefully and wisely. Whether it’s acquired for personal …
If you want funding quickly, be sure to prepare your financials before you apply. A wise woodsman who may have …
Traditional bank and SBA-backed loans may be the lowest-cost financing options available for insurance agency loans but there are some situations where you may need an alternative to a bank loan. As an agency owner, it’s important for you to understand the financing options available to you.
If acquisition is part of your growth strategy, doing your due diligence homework will ensure you know exactly what you’re getting. “Buying a book of business requires careful planning and patience,”
We’ve recently heard a number of stories about insurance agencies that have used quick lenders to secure fast cash.
Every agency has a choice. Will you rely on organic growth alone or acquire an additional agency or book of business which will create increased profitability for your agency much more quickly.
There are at least two ways to grow your business (either or both may require some amount of insurance agency financing). You can expand organically over time, adding to your bottom line client-by-client. Or you can grow rapidly through acquisition.
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