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Covid-19 Loans For Insurance Agents
Insurance Agents are Eligible for Forgivable Loans The Coronavirus Aid, Relief, and Economic Security (CARES) Act recently signed into law contains an important provision known as the Paycheck Protection Program (PPP) designed to provide relief to small businesses affected by the coronavirus pandemic. The PPP directs $349 billion towards job retention and business operating expenses …
Agent’s Guide to the SBA Surety Bond Program
Agent’s Guide to the SBA Surety Bond Program What is the SBA Surety Bond Program? The SBA’s Surety Bond Guarantee Program helps small contractors, who would otherwise not be approved by a Surety company, obtain bonding. This program provides an outlet for these contractors to obtain a bonding line for projects up to $6.5M by …
Insurance Agent’s Guide to Georgia Auto Dealer Insurance Requirements
What are the insurance requirements for Georgia auto dealers? Georgia used car dealers must submit an original $35,000 surety bond and proof of garage liability insurance (minimum of 50k/100k/25k or single limit of $125,000) with their license renewal every even year (2018, 2020, 2022,..) on March 31st. The surety bond must be effective for 2 …
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Hundreds of Surety Bonds Are Due for Renewal Between Now and the End of 2017. Is Your Customer’s One of Them?
Not all surety bonds expire on fixed dates; the vast majority expire one year after issuance. But with that said, there are a healthy number of licensing requirements for local, statewide, and even federal surety bonds that do expire on the same date every year, regardless of when the bond was issued. And since we …
What Are Surety Bonds and How Do I Explain Them to My Customers?
What Are Surety Bonds and How Do I Explain Them to My Customers? As an insurance agent, you spend the majority of your time matching insurance policies to customers. And it’s likely that your customers are already familiar with the framework upon which most insurance policies are built (i.e. an insured and insurer enter into …
What Are Surety Bonds and How Do I Explain Them to My Customers? Read More »