Banker Insights
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A potential Borrower's wage requirement is a major factor in determining a loan amount; it is calculated based on the amount of cash flow remaining after the overhead and the owners wage have been paid. A Borrower with living needs of $60,000 will qualify for a much larger loan than a Borrower with living needs of $120,000, all other things equal.
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May Deal Highlights
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-Outside Buyer in PA with no insurance sales experience, but had experience working at Allstate, purchased and merged a $1M EP agency and a $970K EP agency. PPCLOAN financed 97% of the purchase price.
-Existing Agent in FL purchased and merged a $1.7M EP agency (Not including $100,000 in brokered business) into his existing agency. PPCLOAN financed 100% of the $700,000 purchase price and also provided funds for working capital.
-Outside Buyer in CA purchased a $3.15M EP agency for $850,000. PPCLOAN provided a $770,000 loan with the Seller holding a $75,000 note and the Buyer putting $25,000 cash down.
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Allstate Financing Program
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Uniquely
PPCLOAN - No down payment requirements
- Ability to pre-pay without penalty
- Loans up to 2.5x combined Renewal Commission
- Up to 15 year fixed-rate loans
- Free consultation with Allstate Specialists
Qualifying
Characteristics - Relevant experience
- 650+ credit score
- Displays financial prudency
Rates/Terms - 7, 10, and 15 year loans
- Fixed rates starting at 8%
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To Apply for Financing
PPCLOAN Application
PPCLOAN Questionnaire
Purchase Agreement Criteria
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CONTACT US
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Dustin Mangone Eric LeBlanc Steven Kemper
dustin@ppcloan.com eric@ppcloan.com eric@ppcloan.com
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Over the past three months, PPCLOAN has seen an increase in financing transactions for outside buyers relative to those opportunities for existing agents. To facilitate transactions for the increase in outside buyers, as well as existing agents, we have provided the following resources and information for your benefit. As always, any suggestions or comments you have are welcomed as we strive to improve the quality of our newsletter. 