What You Need to Know about Business Loan Protection and Why You Should Consider It

As a business owner, it is imperative not to default on your business loan payments. A default with your lender could have many negative outcomes – demolish your credit, assets could be taken away, your family may suddenly have to manage a financial hardship, etc.

Our team is here to help you be proactive in the case that you become injured or ill and unable to work. By acquiring Business Loan Protection, you can always be covered.

What Business Loan Protection Coverage Helps

Business Loan Protection would enhance your ability to repay a new or existing loan. Having protection coverage helps show your financial institution you’ll pay them back, even if the unexpected happens. It can help ensure that your business is sustainable even if you can’t be, thereby allowing you to stay current on loan payments to keep your business up and running, employees on the job, and customers coming in.

How Business Loan Protection Works

When your financial institution grants you the loan, they see that you have a disability insurance carrier to ensure that if you become too sick or hurt to work, you receive monthly benefits to help pay the loan. In turn, during the duration of your loan repayment, you make payments to your disability insurance carrier for their monthly coverage.

Many Types of Loans are Covered

Business loan Protection can cover a variety of SBA and conventional loans. For example, loans to acquire a new business, buy more computers or equipment, expand your office space, and build up inventory.

What types of loans do you have? Protect them and your business if the unexpected happens.

Please contact The Bailey Group at concierge@thebaileygp.com or 866.207.8988, option 4

Equitable Advisors, LLC (NY 212-314-4600), member FINRA, SIPC.(Equitabke Financial Advisors in MI & TN). Annuity and insurance products offered through Equitable Network, LLC, which conducts business in CA as Equitable Network Insurance Agency of California, LLC, in Utah, as Equitable Network Agency of Utah, LLC, and in PR as Equitable Network of Puerto Rico, Inc. The Bailey Group is not owned or operated by Equitable Advisors or its affiliates. PPG-137813 (6/21)(Exp. 10/2024)

Comments are closed.