With our economy showing mixed signs of an upswing, individuals and businesses alike are looking for avenues that provide the most cost savings and stability during these trying times–and independent insurance agencies are no exception.
Credit remains difficult to come by, and cash in the bank is a necessity. Credit risk requirements have tightened across the board, with lenders critically concerned about quality over quantity. Meanwhile, agents still have a business to run.
The typical insurance agency requires little capital for daily operations. However, there are instances such as expansion and acquisition that create substantial capital needs. In this economy, these occasions are becoming increasingly more difficult to navigate from a financing perspective.
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