Working Capital for Independent Insurance Agencies
Independent insurance agencies front staff salaries and marketing costs while carrier commissions, especially on new business, can take weeks to be paid and renewals trickle in throughout the year. Working capital smooths that uneven commission timing.
Approval in as little as 24 hours after you apply, with funds sent as soon as the next business day, so independent insurance agencies never wait on a bank.
Fixed daily or weekly payments sized to your sales, not a balloon due date. New business commissions from carriers are frequently paid on a delay, sometimes 30 days or more after the policy is bound.
Funding is a purchase of your future receivables, so you are not pledging equipment, property or personal assets. Renewal commissions are spread across the year based on each client's policy anniversary, making monthly income uneven.
One approval, draw what you need, and return for additional funding as your independent insurance agencies business performs. Producer salaries, licensing fees and agency management software are fixed costs due regardless of the commission payment schedule.
Cover payroll and overhead while waiting on carrier commission payments for newly bound policies.
Keep the agency funded through months with fewer policy renewals on the calendar.
Invest in a book-of-business purchase or new producer before that revenue ramps up.
Yes, qualification is based on the agency's overall monthly revenue and time in business, which works with commission-based income from new business and renewals.
Yes, funding can be used for any legitimate business purpose, including acquiring a book of business or bringing on a new producer.
Approval can happen in as little as 24 hours, with funds available as soon as the next business day after approval.
Paz funds independent insurance agencies from $2,500 to $5,000,000. Most independent insurance agencies qualify for $25,000 - $200,000, based on monthly revenue and time in business rather than collateral.
A US business that has operated for at least six months with $10,000 or more in monthly revenue, your last three months of bank statements and your EIN. The application takes about five minutes, and there is no hard credit pull to get pre-qualified.
Independent Insurance Agencies funding, approved in as little as 24 hours