cfgAdvance

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City: Waitsfield

State: Vermont

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Country: United States

cfgAdvance has been operating a $500,000 portfolio of commission advances to insurance agencies for over two years. The portfolio has performed flawlessly since inception. Our loan structure entirely obviates the policy cancellation issue. The portfolio is currently returning 18% per year with monthly receipts. Each advance loan has 8-month liquidity and is effectively guaranteed by the carriers. Our research indicates that the market potential is ~$50M/year with only a 0.1% penetration, and we have generated interest in providing a ‘private label‘ facility for a major national carrier. For all intents and purposes cfgAdvance is alone in the field. We seek a venture partner to provide $250,000 for the initiation of a rapid expansion. This funding will acquire 100% of cfgAdvance at closing, including the current portfolio. The acquisition payoff will be in the form of an &s;Earn-out&s; that is entirely performance based and requires no investor cash. The Earn-out plan is described in a separate document available on request.

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