Recovery Financing

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Posted on 17 Sep 08

Independent insurance agencies have access to a unique funding source: a special loan program for those affected by hurricanes and other catastrophes, provided by InsurBanc, the bank founded by agents for agents. InsurBanc is offering special short-term loans for expenses related to floods, hurricanes and other catastrophes. InsurBanc is offering this program to qualifying agency principals—for example, those agencies affected by the recent storms on the Gulf Coast.

An insurance agency has a vital role in the community during and after weather catastrophes, noted Robert Pettinicchi, chief lending officer of InsurBanc. “Consumers look to insurance agents and brokers during times of trouble. But an agency needs to be up and running in order to bring financial and emotional relief to clients.”

“Agency owners affected by the recent storms may have special financing needs for several months after a natural disaster. Rather than tapping into personal assets and credit cards—or waiting for government funds to become available—an agency can turn to InsurBanc for short-term financing for repairs and extraordinary expenses related to reopening and operating the agency.

“InsurBanc’s loan program helps minimize the financial impact on independent agency owners who are feeling the effects most closely so that they can start getting their lives and businesses back to normal,” he added.

For more information about InsurBanc’s special loan program, call 1-866-467-2622.