How Financing Can Improve Your Insurance Business
According to PricewaterhouseCoopers, there is an increasing need for the insurance industry to become more dynamic, due to changing demands from customers and innovations in technology. If agents like you want to continue to thrive in this new landscape, you need to offer your clients the most up-to-date services in the most efficient manner possible. Whether you provide life insurance, auto insurance, homeowner’s insurance, or any other kind of insurance, a business loan is a reliable way to secure the capital to invest in your agency in order to increase revenue. Below are suggestions of impactful ways to invest your loan proceeds in your business.
Streamline Business Practices: The new trend in the insurance industry, according to the insurance and risk management firm InGuard, is utilizing technology to streamline business practices. For example, an increasing number of agencies are moving to cloud storage to increase efficiency with data and prevent calamitous losses. Most large insurance corporations offer mobile apps so that customers can easily access their account information from anywhere. Investing in the development of an app for your agency could vastly enhance your customers’ experience.
Market Your Services: From Google searches to Yelp to social media, there are many ways for customers to find options for insurance agents. Make sure that you are discoverable by having a web presence. With funding from a loan, you can enlist a digital media agency to help you with everything from creating and maintaining a website to running digital ad campaigns. You can also get the word out about your services through traditional marketing channels such as direct mail, local TV ads or radio ads.
Growth and Acquisitions: Perhaps your business is booming, and you’re ready to add a new location or acquire an existing agency. Having capital on hand can enable you to make a competitive bid and hire new staff to manage the increased amount of business.
If you’re ready for capital to pursue any of these initiatives, Fundation offers a number of unique benefits to borrowers:
Simple interest loan—only pay interest on the amount for the time borrowed
A dedicated Customer Relationship Manager will work closely with you throughout the entire process
Online application takes less than 10 minutes to complete
Capital is available in as few as 3 business days
Loans up to $500,000 with terms up to 4 years
Interest rates start at 7.99%*
No prepayment penalties
*Rates are subject to each customer’s unique credit profile and history
As one of the nation’s leading online direct lenders for business loans, Fundation combines the benefits of a bank loan with the ease and efficiency of an online lender. By offering simple interest loans with competitive rates to businesses with varying credit profiles, Fundation is successfully filling a long-standing void in the small business commercial loan marketplace.
Fundation streamlines the borrowing process by automating credit reviews and the collection of third-party data. Our online application takes less than 10 minutes to complete, and funds could be available to you in as few as 3 business days. And because Fundation is a direct lender and we use our own capital to fund every loan that we make, we take a personal interest in the success of your agency. A dedicated Fundation Customer Relationship Manager will take the time to understand what truly makes sense for your insurance agency and work with you to support your immediate and long-term capital needs.