Your SBA lender has informed you that life insurance is a requirement to be in place and assigned before you can close your loan. This will likely be one of a long list of items that must be completed before your loan can be funded and you should get started on obtaining your life insurance policy right away.
Did you know that:
- The average insurance company takes between 1-2 months to put a policy in place and have the collateral assignment recorded?
- Many companies can take more than 30 days to assign an EXISTING insurance policy
- Not all policies can be assigned to your lender
- Some collateral assignments will not be suitable to meet your lender’s requirements
- The Bailey Group has access to over 50 life insurance companies
- There is no additional cost to take advantage of The Bailey Group’s expedited process
These are just a couple of the reasons that we’ve identified as to why you should obtain SBA life insurance as soon as possible and work with a company experienced in dealing with life insurance for SBA loans. For this and other small business-related needs, The Bailey Group is here to assist you! The Bailey Group can help your clients meet their life insurance requirements as quickly as the same day.
Contact Us Today or Call 866-207-8988
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