EF summer 08.indd - National Association of Professional Allstate ...

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onus from Allstate, such as the rate of retention, policy growth, and profitability. A rate of retention above 83% is the standard, with 88% being above average. It is important to at least maintain the policy growth each year, as well as maintaining a loss ratio below 60%. Having a business plan shows you have put some thought into this purchase and that you have a plan to succeed. Important things to address include why you have chosen this specific book of business, how you plan to run the agency, any changes you might make, and why you know that you will succeed. When you present a strong argument to a lender, you are more likely to secure approval of a loan with attractive terms. 7. Revamp your resume. You are requesting a large amount of money based upon your skill and knowledge, so showing a lender that you have previous experience and expertise is a significant key to gaining approval for the loan you want. Typically, at least two years of insurance experience is required to obtain loan approval, but if you show that you have solid business experience and are Napaa Ad July 2007 7/26/07 3:05 PM Page 1 able and willing to make a down payment oftentimes a loan approval can still be acquired. It is always good to list past education, employment, and other accomplishments; but it’s also important to relate specific accomplishments and how they have prepared you for future success as an Allstate agent. Maybe you have exceeded performance expectations, been able to grow an agency despite tough market conditions, consistently performed at a high level, or excelled in customer service. Whatever it may be - make sure to include these achievements on your resume as they will help a lender to understand why you are a good candidate for a loan. 8. Be prepared for the loan process. The loan application process does not have to be stressful or difficult. However, you are requesting a large sum of money without physical collateral so it does take time and dedication on your part to secure favorable terms. Submit a complete and organized loan package to ensure that you will receive approval as quickly as possible. Once you have returned an accepted and signed commitment letter to your lender, you have passed the negotiation stage and the closing process begins. Closing is all about communication and getting things completed quickly and efficiently. If you are willing to put in a little bit of work, you can have your loan closed in as little as 10 days. While taking a vacation might seem like a good idea before you settle into a newly acquired business, you might want to think twice about it. Taking time off can greatly hinder the closing process if you are out of touch and unable to complete the needed documents. As a borrower, it is not easy to know exactly what a lender is looking for in a financing opportunity. Hopefully this information is helpful and has provided you with a little insight on how to secure the best loan terms available. With a little attention to detail, you will be in great shape the next time you apply for an agency loan! Paul Clarke is Chief Operating Officer of Professional Practice Capital. Paul and his staff can be contacted at (800) 456-2779 or you can visit his company on the web at www.ppcloan.com RHINOTEK Providing Premium Imaging Supplies for Over 26 Years! Rhinotek is a preferred NAPAA provider for ink and toner Great Savings - Group Buying Prices - Price Includes Ground Shipping Guaranteed Quality - 30 Day Net TermsT Best of all we help the environment Rhino NAPAA Brand Rhino # PRINTER OEM Price Prices Savings Lexmark QL-T520 Optra T520 $373.00 $140.77 62% Brother QB-HL460 TN 460 $74.49 $43.00 42% HP QH-1320 1320 Laser $130.99 $82.60 37% HP QH-4250 4250 Laser $223.99 $153.00 32% We provide our customers with value every step of the way • A vast selection of 6500 compatible and OEM imaging supplies • Over 26 years as an industry leader of premium inkjet and laser toner cartridges • High-quality output, vivid colors and exceptional yields • Compelling price to performance value • A knowledgeable sales team focused on your growth through savings Rhinotek Computer Products, Inc. 2301 E. Del Amo Blvd., Carson, CA 90220 (800)-695-7446 www.rhinotek.com/napaa.htm Rhino Green Doing our part to recycle the world 44 — Exclusivefocus Summer 2008
We Finance Allstate Agencies! Paul Clarke Chief Operating Officer Tabitha Chisum Sr. Closing Coordinator Allstate Specialist Steven Kemper Relationship Manager Allstate Specialist Ashley Marcelle Closing Coordinator Allstate Specialist Our Staff is Dedicated to Serving You! Dustin Mangone Relationship Manager Allstate Specialist Kyle Crawford Relationship Manager Allstate Specialist “PPC has been a huge asset to my career and business. Not only have they provided a hassle-free initial loan to fund my acquisition, they have also done a tremendous job with ongoing communication as well as recognizing me as a valued client. I have sent other buyers to them and I plan to use their services should I acquire a 2nd location. PPC understands how to value an agency, what personal attributes each individual brings to the table, and how to leverage multiple banks to ensure the right financing option for the borrower.” – Adam Pisani, Allstate Agent, Sugarland, TX With the current lending climate you may notice some companies backing out of the Allstate market. In these unsure times you can rely on Professional Practice Capital to stick to our commitments. Our loans are bank funded and we will continue to lend to agents nationwide. If you are left in a bind by another lender - remember you can always count on PPC! 100% Financing Low, Fixed Interest Rates 7, 10, &15 Year Loan Terms No Multiple of Revenue Limits 800.456.2779 www.ppcloan.com info@ppcloan.com
Page 1 and 2: Exclusivefocus Summer 2008 An Offic
Page 3 and 4: We finance Allstate books of busine
Page 6 and 7: president’s letter Farewell Messa
Page 8 and 9: usiness opportunities to increase a
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Page 12 and 13: letters to NAPAA ker friends are la
Page 14 and 15: letters to NAPAA I appreciate you
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Page 40 and 41: technology What To Expect When It
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