Springtree Group (STG) this week announced a new formal strategic partnership with Bank of America – Practice Solutions (BoA). The new BoA / STG Strategic Partnership agreement calls for the two companies to pool resources and intellectual property to speed the delivery of custom loan products to increase the productivity and profitability of Insurance Agents and Brokers. To remain competitive, Brokers, Agents, Wholesalers, MGAs and Carriers must stay vigilant for opportunities to enhance their company’s performance and balance sheets.
Foundational for STG is the availability of the highest quality lending services to affect merger and acquisition opportunities. Through the Bank of America – Practice Solutions, agents can leverage the revenue in their insurance agency to upgrade or expand, funding future growth and consolidating bills which improves cash flow by lowering overhead. BoA – Practice Solutions in conjunction with STG works with agents to customize a plan that suits the agent’s income, debt level and plans for the future.
“We are pleased to come together with our new strategic partners at Bank of America,” stated STG CEO Sam Patterson. “Our mutual goal is to provide services that will increase profitability and competitiveness of Insurance Brokers and Agents both through STG services and our Strategic Partners. We continue to be dedicated in finding Strategic Partners that own a specific understanding of the Agent and Brokerage space like BoA.”
Bank of America’s Regional Sales Manager, Bruce Warren stated, “Our two companies have unique complimentary skill sets that serve this very specific and unique market space. Traditional lending practices have not satisfied the market needs in the space. As a consequence, we have built a customized and dedicated program to specifically address this difficult loan market. We are pleased to partner with STG because of their leadership in this space.”
About Bank of America
Bank of America has a strong commitment to the communities and regions in which we live and work. Through their lending, investing, advising, transacting and employment, BoA provides valuable resources to their customers and clients around the world. BoA is customer-driven, building customized value propositions and products to satisfy customers’ needs, including the Agent and Brokerage space. Please visit Bank of America online at http://www.bankofamerica.com for additional details.
About Springtree Group
Springtree Group, founded in 1988, provides M&A, advisory and financial resources to support the Insurance Agent and Brokerage community. STG’s unique value proposition is the bringing together a complementary M&A and loan service package to this highly fragmented market space. STG is the only organization that can offer this extensive range of financial products and services custom developed and provided exclusively for the insurance Agent and Brokerage community.
Springtree Group, headquartered in Dallas, Texas, provides services to the insurance sector in every region of the U.S. For more information, please call (972) 395-8811 or visit www.springtreegroup.biz.