Live Oak Bank: Financing the Insurance Industry
“Financing to keep independent insurance agents independent” is what Live Oak Bank stands for. It makes perfect sense then for Live Oak Bank and Indium to join forces and serve the independent insurance channel, and more specifically, “indie agents”, together. Indium is proud to be partnered with Live Oak Bank (subsidiary of Live Oak Bancshares, Inc) (NASDAQ:LOB) to provide our indie agents with the lending solutions they need to get an edge, and stay indie.
With over 40 years of experience in insurance agency operations, financing and M&A, Live Oak Bank is well positioned to assist you with capital needs and help you remain independent.
- Insurance Expertise: Lending team that has extensive experience working in the insurance industry. They understand your business.
- Cash Flow Lenders: The asset of an insurance agency is the book of business.
- Use of Loan Proceeds: Acquisition, Refinance, Working Capital, Real Estate
- Competitive Rates and Terms: Typical agency acquisition w/o Real Estate would have a 10 year term, rate between 5.5% – 6.5%, and no pre-payment penalty. Longer terms available for real estate loans.
- Preferred Lender with the SBA: Our lending process ensured an efficient process that provides for fast closings and funding. Most loans close within 60 days.
Watch Live Oak Bank’s on demand webinar (Financing for Your Agency) for more information on its capabilities and industry expertise.