Finance Insurance Agency Acquisition

November 20, 2014

Insurance Agent Loan, LLC

 

Bill Friend, owner of PFA - Premium Finance Associates and PFG - Premium Finance Group is happy to announce the formation of Insurance Agent Loan, LLC.  IAL specializes in providing money to insurance agencies for acquisition, perpetuation and cash flow. 

Sam Patterson of Spring Tree Group in Dallas, TX is a strategic partner with Bill Friend.  Sam’s experience is Mergers & Acquisitions in the insurance field.  Sam’s knowledge and experience in putting deals together coupled with Bill’s marketing expertise make up the IAL Insurance Agent Loan, LLC team. 

Unless you are a large agency – or have been in business for 25+ years, insurance agencies and insurance agents have found it difficult to secure loans.  If a bank cannot feel, touch or see the asset – they are generally not lending against it.  IAL has a platform of 10 (ten) lenders consisting of underwriting divisions of national banks, off shore lenders, hedge fund and unique asset based lenders. 

“We have a lender for most insurance agencies,” says Bill Friend.  “Most of our loans can be underwritten and funded within 45 days or less.  We are looking for agency buyers to invest 5-10% of the purchase price, have the agency sellers carry back a note of 15%, while the funding source finances the remaining 75%.  The equation can vary, but generally those are the standard terms when constructing an agency purchase.”  Whether we structure a 3yr, 10 yr or 25yr amortization, the insurance agency can feel comfortable in dealing with seasoned professionals. 

Premium Finance Associates, LLC is an insurance premium finance company specializing in financing Property & Casualty policies.  Started by Bill Friend on 2002, PFA represents several national premium finance companies and takes a consultative approach in providing premium financing to insurance agents on a national basis.  Premium Finance Group, LLC provides life insurance financing solutions to high net worth individuals as well as companies.  In many cases, we provide asset based lending products to companies owned by high net worth individuals. 

Please call Bill Friend today to set up an initial no cost consultation:

Bill Friend, Principal

866.FRIEND.0 (374.3630)

Looking for insurance agency acquisition, agency purchase, insurance loans, agency loans, small business loans, or a restaurant loan? Learn more about our insurance agency loan services ยป