Riskpro Global Partners
With 40 years of combined experience, Gary Griffith and Travis King’s new agency, Riskpro Global Partners, was far from a start-up. But since the agency was just 18 months old when Gary and Travis began searching for working capital to hire two new producers, most lenders considered the firm unproven and therefore too risky. Without the funding, they wouldn’t be able to execute their business plan and hire the producers they needed to double their commission base in a year.
Gary and Travis bypassed traditional financing options and looked online for their lender, selecting AgileCap because of our quick turnaround time.
AgileCap was happy to help and willing to work around Riskpro’s bill-based commission structure, which makes their commission income harder to identify and, therefore, to harder to collateralize.
Riskpro’s legal counsel also requested modifications to the standard AgileCap contract, which required some negotiations. AgileCap's underwriters and the legal team at Riskpro worked together so that both the lender and the borrower were happy with the ultimate compromise. Throughout the process, AgileCap loan advisors stayed in close contact with Gary and Travis and offered advice and direction.
“AgileCap did an excellent job traversing some pretty complicated business requirements. Their team was responsive and conciliatory throughout the legal and financial due diligence. Once all our paperwork was in, we had the funding we needed within two weeks. Our new producers are hard at work and we anticipate making $250,000 to $400,000 in commissions this coming year. AgileCap will be part of our future growth planning.”– Travis King
OUTCOMESWhen their loan came through, Riskpro hired two seasoned producers who got to work immediately, generating new commissions right away. Gary and Travis plan to turn back to AgileCap to finance future new hires and expansions. Travis explains, “We built a rapport with the AgileCap team. We’re pleased with their flexibility and willingness to negotiate terms — a welcome change from other lenders that Gary and I have worked with in the past. I’d highly recommend the AgileCap team; they’re professional, supportive and accessible.”
BENEFITS TO WORKING WITH AGILECAP
based on Travis King’s experience