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Can anyone provide me with some companies that are lending for insurance agency acquisitions? It seems the prospective lenders have been changing dramatically over the past few years.

InsurBanc is one of the larger and definitely the most in-tune (with the agency world) lending institutions that specializes in agency transactions.

Please take a look at their website: http://www.insurbanc.com/why-insurbanc/

Regards,
Jason

Good one Jason, defiantly agree. I have heard great things about them. When all fails just Google them to find any prospective bad reviews.

Oak Street Funding also lends for agency acquisitions and depending upon the primary lines and retention of the book of business being purchased, varies the term and rates accordingly.

Insurebanc is good but gets totally involved with many other items on your balance sheet prior to potentially lending.

Chris McAtee at Oak Street Funding.

It also depends on the book. Indy -vs- captive. I know that in the past the carriers themselves have offered to fund the agency purchase with very good terms. They don't want a purchaser that is partial to a different carrier to come in and move a big book... So, talk with the carriers that are currently one, two and three in the agency to be purchased. Or, if you already have a preferred carrier, ask them.

Also, you might be able to get the seller to finance with an appropriate down payment. I learned when I bought my agency that the "book" is depreciated over 15 years, so that's a good lime-line for structuring the payments, too. Good luck.

Wayne Lunday