What is a Lender Thinking When I Apply for a Loan?

So you’re ready, and excited, to purchase an insurance agency. You eagerly call a lender to inquire about perpetuation or acquisition financing. The phone call goes well (you think), but a few days pass silently. Is the lender interested? Will I be approved for a loan? I wish I knew what the lender is thinking…

Crestmark’s own Christopher Soupal recently shed light on this topic, explaining the factors that influence the lender’s decision. The article was first featured by the Michigan Association of Insurance Agents, and it is also available on Crestmark’s Resource Section. In this piece, Christopher explains the factors the lender considers during the review, including the character of the borrower, the growth of the business, collateral growth, and more.

At Crestmark, we take the guesswork out of applying for a loan. Our lending experts work closely with you to determine the types of financing that will work best for your situation, and will walk you through the loan application process. To get started, contact us at 888-999-8050.