Farmington, Conn.-based bank InsurBanc is offering a special loan program to insurance agencies affected by hurricanes and other catastrophes.

The bank, which was founded by the Alexandria, Va.-based Independent Insurance Agents & Brokers of America, is offering short-term loans for expenses related to floods, hurricanes and other catastrophes.

InsurBanc said the program will be offered to qualifying agency principals such as those agencies affected by the recent storms on the Gulf Coast.

Robert Pettinicchi, chief lending officer of InsurBanc, said in a statement that agency owners may have special financing needs for several months after a natural disaster.

The program, he said, means instead of tapping into personal assets and credit cards, or waiting for government funding, agency operators can secure 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 said.

Information about InsurBanc's special loan program is available by calling (866) 467-2622 or by e-mail at agencyfinancing@insurbanc.com.

Special Reports /

InsurBanc Offers Special Loans To Insurance Agencies Hit By Cats

Related Stories

Recommended For You