Financing for Independent Insurance Agencies
We appreciate the value you have created in your agency's book of business. We recognize it as an asset, which gives you more buying and financing power.
We specialize in independent insurance agency financing for both large and small acquisitions throughout the Midwest. Whether you want to acquire another agency, buy out one or multiple partners, or refinance existing debt, we will work with you to determine the best structure of financing.
Acquisition Financing
SFB has experience in financing a variety of agency acquisitions, including both large and small acquisitions throughout Wisconsin, Iowa, and Minnesota. Each situation is unique, so getting to know each other and understanding your goals is the first step. The numbers matter, but banking and insurance are still people businesses. We start with the relationship.
Partner Buyout
Whether you want to buy out one or multiple partners, we will work with you to determine the best structure for financing. Not only must you consider the right amount of the buyout, it is imperative to structure a financing package that makes sense and is affordable to your agency.
Refinance
We can help you evaluate whether it makes sense to refinance your agency debt or consolidate debt. It will not only simplify your balance sheet, but it could reduce your monthly payment.
Producer Loans
Hiring a new producer doesn't always come with instantaneous positive cash flow. It might take two to three years for the new producer to generate results. To help your cash flow during these early lean years, SFB can provide a producer loan to help fund your initial cash outlay.
Technology Loans
It can be challenging for an independent insurance agent to keep up with changes in technology, especially dealing with numerous carriers. SFB can help you upgrade your systems with a technology loan to bridge the gap between your initial investment and the efficiency gains realized down the road.
Real Estate & Lines of Credit
You may have an existing real estate loan that has a higher-than-market rate or payments that are too high. Refinancing could improve both cash flow and net income. In addition, you may want to consider a line of credit to use in your business for purchases that are unique to your agency.
When you have an opportunity to increase your commissions through purchasing a good book of business, you have to capitalize on those opportunities. Having a bank like SFB in your corner is a must if you want your agency to stay relevant against the huge firms.
I was very apprehensive to deposit our checks remotely, but the process has been extremely smooth and seamless. Any minor issues we have had were resolved quickly and painlessly.
The SFB Loan Process
We like to get to know one another first in order to gain a better understanding of how we might best be able to help you. We will then gather financial information, identify your needs and customize financing to meet your unique situation. Knowing how precious time is, we work diligently throughout the loan application process with a sense of urgency. We will communicate with you every step of the way. Learn more.
More than Just Your Banker
Consider us your trusted advisor. We'll support you through the life of your loan -- performing annual financial analyses and providing recommendations to continue improving your agency. We understand that prompt attention to your needs is critical. At SFB, we are here to serve our insurance agency clients with a dedicated banking team that specializes in insurance agency financing.
