[Red]

Are there any good lenders for an insurance agency in MCA? I know for some lenders it is restricted. Client is doing high revenues around 200k monthly. He is in good shape, he is actually approved for an SBA loan but cant wait and needs the money sooner than the SBA will fund.

Thank you

[Chambo]

Most A Funders will do Insurance companies.....

[Yankeeman07]

Are there any good lenders for an insurance agency in MCA? I know for some lenders it is restricted. Client is doing high revenues around 200k monthly. He is in good shape, he is actually approved for an SBA loan but cant wait and needs the money sooner than the SBA will fund.

Thank you

IF he is approved for an SBA and is funded with an MCA you will kill the SBA Loan. Our SBA takes about 21 business days. Has the underwriter received the merchants transcripts?

[RichardGerard]

IF he is approved for an SBA and is funded with an MCA you will kill the SBA Loan. Our SBA takes about 21 business days. Has the underwriter received the merchants transcripts?

If the client alerts the aggregator and lets them know they needed a bridge in order to operate, the file won't die. If however they find out about it just prior to closing, all of their DSCR ratios will need to be recalculated etc.

It does sound like the client is applying for a straight 7a- not the Express that you allude to in 21 days.

[CraaaCraaa Radio]

Are there any good lenders for an insurance agency in MCA? I know for some lenders it is restricted. Client is doing high revenues around 200k monthly. He is in good shape, he is actually approved for an SBA loan but cant wait and needs the money sooner than the SBA will fund.

Thank you

How many years in business?

[ridextreme]

you gotta love sales reps

"He's in Great shape, but he can't wait for his SBA loan he needs money ASAP!"

200K is mostly policy payments, his commission is only a small fraction of that. There are a lot of funders who fund insurance agencies.

[Karen37a]

Insurance is tricky because it depends on the type of insurance line and also how their distribution channel works are they global? national, regional, agency, sole proprietership...plus they have a "buy out" clause and any top producer ( millions) would move to own half the book in 5 years.

You can also get a "draw" against future commissions if your persistency levels are above 75% ( clawbacks and renewals ) .

They have similar structures to Mortgage brokers except for the bulk of the commission is paid upfront on the 1st year or 2 . Brokers and Agents usually build their business up, not get loans for leads or furniture etc.

Again it depends on the insurance line..everyone is different

[WestCoastFunding]

you gotta love sales reps

"He's in Great shape, but he can't wait for his SBA loan he needs money ASAP!"

200K is mostly policy payments, his commission is only a small fraction of that. There are a lot of funders who fund insurance agencies.

All of this is 100% right.

[Karen37a]

If they had too many "clawbacks"....they lose the ability to get paid upfront

usually, when someone wants money in Financial services they make sales.


***There could be a valid reason they want the money...if you find out, just out of curiosity id like to know

[fundyoutoo]

send that sh** out kid

[Karen37a]

I'm going to read a story in the future of how an insurance salesperson Arbitraged their book of business and made it portable Bunder the umbrella and skipped off to Costa Rica to MCA Island

[fundyoutoo]

I'm going to read a story in the future of how an insurance salesperson Arbitraged their book of business and made it portable Bunder the umbrella and skipped off to Costa Rica to MCA Island

I'm going to make you an okcupid account so you won't have time to write weird posts anymore :P

[Irving]

you can always try us at irving@ufsfunding.com

[mcaguru]

mantis is king at funding brokerage houses from insurance to real estate ..list goes on.... i don't care if they don't have a website! ( we just funded 60,000 brokerage after a competing funder killed for no website)....