We are always surprised when we do a GPP (Growth, Productivity, Profitability) Analysis at an agency and find debt on the agency’s balance sheet implemented years ago at interest rates far above current levels. When we ask if the agency owners considered refinancing we get a lot of avoidance mechanisms that seem to revolve around the complexity the agencies encountered when trying to get financing in the first place.
Our recommendation for refinancing at current historically low rates always saves the agencies thousands of dollars each year. And the funding mechanisms are now “friendly” enough that an agency owner can take the steps to refinance within a day or two and very little intrusive involvement. Terms are now friendly enough to allow payouts in as much as ten years and interest rates can save agents thousands – all with no penalties for early payoff if that’s the desire of the agency.
We encourage you to call us and discuss your current loans and balance sheets to identify if refinancing is right for you. We can link you with the suppliers of funding that are very familiar with the insurance industry and can help you SAVE MONEY and make any debt you have much easier to manage – 856 779 2430 – ask for Al Diamond