Daily News: June 9, 2016

Super G Provides Capital to Finance Insurance Agency Acquisition

Super G Funding provided $900,000 in capital to an insurance agency customer to support the acquisition of a New York-based insurance agency with significant commission and predictable renewal income that specializes in commercial insurance policies.

The acquirer was not able to able to seek a bank loan as it was competing against a larger “all cash” buyer and needed to find a lender that could quickly approve it for a loan. Traditional senior lenders and equity investors were not viable options since both would have taken too long and equity would have been dilutive.

Super G approved and funded the loan in just a few weeks, providing $900,000 in capital to complete the accretive acquisition.