InsurBanc Division Director, Scott Freiday, recently authored an article, “A Flexible Funding Option: Multiple Advance Term Loans”. In his article for The Standard, Scott discusses the flexibility that multiple advance term loans can provide as a funding option:
“A common funding approach used by independent insurance agencies is a line of credit, which allows for revolving working capital, whereas a multiple advance term loan is designed for specific transactions with a set drawdown period of 12-18 months. Agency principals should note that a multiple advance term loan requires intentional planning and is not meant for reacting to situations, unlike the line of credit which offers the flexibility to do so.”
Find out of this option is right for your agency. Click here to read the full article on page 14.
