Anyone Funding Insurance Brokers
Need a Funder or Vendor? START HERE

Results 1 to 8 of 8
  1. #1
    Senior Member Reputation points: 47257
    Join Date
    Apr 2013
    Location
    Basalt CO
    Posts
    867

    Anyone Funding Insurance Brokers

    I have a guy in Texas doing $45k a month in gross.
    Looking for something in the 12 month and higher pay back range.

    I know loan me will this but they do not fund in TX.

    Anyone else out there?

  2. #2
    Senior Member Reputation points: 84416
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,941

    Quote Originally Posted by skideeppow View Post
    I have a guy in Texas doing $45k a month in gross.
    Looking for something in the 12 month and higher pay back range.

    I know loan me will this but they do not fund in TX.

    Anyone else out there?
    I may have a solution
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  3. #3
    Veteran Reputation points: 135672 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,189

    the issue with insurance brokers is the pass through. Much of their bank activity consists of collecting premiums, which are then forwarded to the respective companies.

    You need to find out the pass thru rate first, then you have your REAL # to work with

  4. #4
    Senior Member Reputation points: 47257
    Join Date
    Apr 2013
    Location
    Basalt CO
    Posts
    867

    Quote Originally Posted by Chambo View Post
    the issue with insurance brokers is the pass through. Much of their bank activity consists of collecting premiums, which are then forwarded to the respective companies.

    You need to find out the pass thru rate first, then you have your REAL # to work with
    I understand that the gross does not reflect the actual income. I am working on that.

  5. #5
    Member Reputation points: 1135 Cambridge's Avatar
    Join Date
    Dec 2016
    Location
    United States
    Posts
    67

    -Funding Circle

    -Business Backer

  6. #6

  7. #7
    Member Reputation points: 10
    Join Date
    Apr 2017
    Location
    Miami, FL
    Posts
    9

    Quote Originally Posted by Chambo View Post
    the issue with insurance brokers is the pass through. Much of their bank activity consists of collecting premiums, which are then forwarded to the respective companies.

    You need to find out the pass thru rate first, then you have your REAL # to work with


    I agree with Chambo, would also need to see if hes hitting his quotas for respective appointments
    Modern Financial Group LLC
    MCA Funding
    1-800-859-6384
    info@modernfinancialgroup.com
    www.modernfinancialgroup.com

  8. #8
    Quote Originally Posted by Chambo View Post
    the issue with insurance brokers is the pass through. Much of their bank activity consists of collecting premiums, which are then forwarded to the respective companies.

    You need to find out the pass thru rate first, then you have your REAL # to work with
    The pass thru issue should be as easy as ignoring the premium account when calculating gross receipts. Most agents have a separate premium account, to avoid commingling.

Similar Threads

  1. Replies: 2
    Last Post: 12-08-2016, 01:55 PM
  2. Replies: 1
    Last Post: 01-12-2016, 01:57 AM
  3. Replies: 6
    Last Post: 11-09-2015, 09:47 AM
  4. Insurance Brokers
    By Mhamill in forum Deal Bin
    Replies: 3
    Last Post: 02-08-2015, 03:22 PM
  5. Insurance Companies/brokers/agents/consultants/tax prep
    By weiss475 in forum Merchant Cash Advance
    Replies: 13
    Last Post: 02-15-2014, 06:50 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

Fintech Nexus is shutting down
Fed penalizes Evolve Bank
Cloudsquare unveils Cloudsquare Lend


DIRECTORY