New York, NY (PRWEB) October 28, 2012
Having secured significant, multi-year capital, Gracie Point’s premium finance funding solutions now support a broader range of loan sizes and strategies. The expanded premium finance loan programs offer clients up to a 20-year loan term, one-time financial qualification, and a 100% advance rate on policy cash value,with no personal or corporate guaranty required from the borrower. With Gracie Point, producers can help clients align the long-term, permanent need for life insurance with a sustainable, long-term financing strategy that maximizes the death benefit and minimizes out-of-pocket costs.
The availability of a 20-year loan commitment from Gracie Point represents a significant improvement over most available loan terms. “We believe that traditional premium finance plays a valuable role in the life insurance market and we designed our programs to better align with the needs of that market” states Bob Powell, CLU, President and Chief Executive Officer of Gracie Point. “By creating an innovative funding platform, we can offer our producers, carriers and borrowers scalable access to capital, greater stability of capital, and superior loan terms”.
Gracie Point’s loan programs are now available to individual and corporate borrowers as well as trusts. “Our team, with extensive experience in insurance and capital markets, has designed our loan programs to position traditional premium finance as an attractive funding alternative for multi-life and corporate applications including buy/sell and key man strategies, as well as in force policy financing and loan refinancing. Our loan terms make it attractive for borrowers to keep valuable assets working in their businesses and portfolios instead of diverting these assets to pay for life insurance premiums ” explains Ted Kilkuskie, Chief Distribution Officer of Gracie Point.
About Gracie Point
Gracie Point is an independent specialty finance company focused on the traditional life insurance premium finance market with expertise in loan origination, structuring, and funding. Gracie Point utilizes a sophisticated, capital markets-driven funding technology as well as traditional bank lending platforms to generate broad and diverse capital sources so that it can offer sustainable premium finance loan programs.
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