Run Time: 26:00
in On Point, Podcasts

Who Wants Agency Debt? You Might!

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Borrowing can be a good business decision for agencies looking to expand. But which are the best bets? You may want to hire new producers, invest in technology, or buy a book of business or agency. These choices help ensure agency debt is productive and doesn't leave you over leveraged. On this installment, InsurBanc CEO David Tralka talks about some basic dos and don'ts when it comes to borrowing. "Every agency should put itself into a position to borrow cash," says Dave. "Even if it doesn't need it, the process is important. If you can tell a good story to a bank, that's valuable. Using credit and debt can be a powerful driver of growth." Dave also sees more owners selling off pieces - rather than the entire agency - to recapitalize the firm and watch the value grow.

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