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AgileCap business loans for insurance agencies review

This niche lender offers flexible financing starting at $50,000, backed by your insurance book.’s rating: 3.5 / 5.0


Sometimes regular business term loans just don’t cut it when you’re looking for funds to expand your insurance agency. That’s where industry-specific financing can help.


Min. Amount$50,000
Max. Amount$2,000,000
Loan Term36 to 60 months
Min. Credit Score550
RequirementsIn the insurance industry, 2+ years in business, 550+ personal credit score, organized as an LLC or corporation

First, do I qualify?

To qualify for a working capital loan from AgileCap, you must:

  • Be in the insurance industry
  • Have at least two years in business, with some exceptions
  • Have a personal credit score of at least 550
  • Be organized as an LLC or corporation, or willing to convert

What is AgileCap?

AgileCap is one of a few lenders out there that offers financing specifically for insurance agencies. It offers working capital loans backed by your business’s future commissions, commonly known as insurance book of business financing.

These working capital loans fall somewhere between a term loan and a line of credit. How does it work? First your insurance agency takes out a term loan between $50,000 and $2,000,000. After you’ve paid off part of the loan, your agency can apply for more financing — either up to the original loan amount or more if it’s eligible.

Each loan comes with a term of three to seven years. If you want a longer loan term, AgileCap may still be able to work with you — but it’s on a case-by-case basis.

AgileCap working capital loans come with an interest rate based on your creditworthiness, the loan term and amount. It also has an origination fee of 3% to 7% that comes directly out of your loan. There are no prepayment penalties or other fees.

What makes AgileCap business loans unique?

AgileCap is one of the few non-SBA lenders that offers loans specifically for insurance companies. Its working capital loans are also more flexible than a traditional term loan, allowing you to access funds you can qualify for as needed. These loans are also secured, making your business less of a risk and potentially helping it qualify for a more competitive rate.

There’s some flexibility in the application process as well. You might be able to get startup funding from this lender if you have years of experience in this business, for example. Generally, the more experience you have under your belt and the higher your monthly commissions, the better chance AgileCap will bend its lending rules.

What are the benefits of an AgileCap business loan?

  • Made for insurance agencies. Traditional business loans sometimes just don’t mesh with an insurance agency’s commission-based business model. AgileCap’s working capital loans do.
  • Large amounts available. Loans can get as high as $2,000,000 — though you’ll likely need to be in business more than the minimum two years to qualify.
  • Flexible financing. You don’t have to pay off your full term loan before applying for more funds — as long as your business shows it can afford to take on more debt.

What to watch out for an AgileCap business loan?

  • Doesn’t operate in all states. You won’t be able to qualify for AgileCap’s loans if your business is located in South Dakota, Vermont or Washington, DC.
  • High origination fee. While it’s common for business loans to come with an origination fee, AgileCap’s run a couple percentage points higher than the usual 2% to 5%.
  • Not forthcoming about rates. AgileCap doesn’t reveal the range of APRs it offers until it has more information about your business, making it difficult to make a quick comparison.

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AgileCap reviews and complaints

BBB accredited Yes
BBB rating A+
Customer reviews verified as of 13 October 2020

Virtually nothing. As of October 2020, it has a page on the Better Business Bureau site, is accredited and has an A+ rating — but no reviews. It also doesn’t have any reviews on Trustpilot or mentions on Reddit, Yelp or insurance-specific forums. But this might not necessarily be a red flag. Such niche lenders tend to have less of a web presence.

The best way to learn about past customer experiences is through its web page, where you can find the names of agents and agencies that have worked with AgileCap in the past.

How do I apply?

After you’ve confirmed you meet the eligibility criteria, you can apply for a working capital loan from AgileCap either online or over the phone. To get started over the phone, call 855-514-1189. Follow these steps to get started online:

  1. Go to AgileCap’s website and click Schedule a time.
  2. Enter your name, basic contact information, any additional details you want to include and the loan amount.
  3. Click Contact us.

You must be OK with receiving a phone call and a 30-minute consultation to get an AgileCap business loan.

A loan specialist should get in touch with you within one day of submitting your information. They’ll typically ask for more details and help you find the right loan amount for your business, usually within 24 hours. It can take up to five days for the underwriting team to determine if you’re eligible and get your funds delivered.

What documents do I need to apply?

What documents you need can vary, depending on your business’s experience and commission. You might be asked to submit:

  • Book of business. Your agency’s commissions are one of the most important factors in AgileCap’s underwriting process. Not only is it your business’s collateral, but it also helps AgileCap determine how much you’re eligible to borrow.
  • Business bank statements. In addition to your book of business, AgileCap might ask to see your agency’s bank statements to get an idea of how much funds you have available and verify your debt payments.
  • Business tax returns. AgileCap might use your agency’s most recent tax returns to get an idea of its yearly revenue.

I got the AgileCap business loan. Now what?

Since AgileCap’s working capital loans come with monthly repayments, you won’t have to start paying it off right away. You might want to ask if you can sign up for automatic repayments — it’ll be one less thing on your plate each month. Take note of your business’s bank account and loan balance to make sure everything is running smoothly. If you notice any mistakes, reach out to customer service as soon as you can.

After you’ve paid off part of your loan and your agency still needs financing, you can apply for more through AgileCap. Already having a loan doesn’t necessarily guarantee you’ll qualify for more — your agency needs to prove it can afford to take on that debt.

Bottom line

Insurance agencies looking for financing that’s not a Small Business Administration loan might want to consider working with AgileCap. Its secured working capital loans come with flexible terms and requirements and are designed to fit your agency’s specific funding needs. But its lack of transparency on rates and slow turnaround time might make you want to look elsewhere.

To learn more about how business loans work and compare other lenders, read our business loans guide.

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