You don’t have to navigate the insurance financing process alone.
At Live Oak Bank, we know the insurance industry. Our team has over 40 years of experience in agency operations, financing and mergers and acquisitions. We leverage our insurance industry knowledge and financing expertise to help you meet challenges and seize opportunities in any market. Whether you’re looking to acquire another agency, refinance an existing loan or buy out a partner, we’ll make it a smooth transaction. Our relationship begins when your loan closes. We work with you throughout the life of your loan. We’re a committed partner, no matter what your destination may be.
What You Can Expect:
Longer Terms: 10 years for agency loans, 25 years for real estate
No balloons, no calls or financial covenants
Loan Amounts: Up to $10,000,000 in combination financing
Expedited Loans: For loan amounts of $75,000 to $350,000
Competitive Interest Rates
Fast Closings: On average 45-60 days
Your loan can be used for:
Merger and acquisition funding
Perpetuation funding
Consolidation and refinancing of existing loans
Working capital
Real estate & Construction
Insurance Industry Financing Done Right
Live Oak understands the unique opportunities and challenges facing the insurance industry. We are a committed financing partner no matter what your needs may be.
Insurance Agents
Are you an agent seeking financing for growth? Live Oak is your financial solution.
Considering an acquisition, real estate purchase or refinance? Our industry experts will tailor a loan package to meet the needs of your insurance business.
Kelly Drouillard joined Live Oak Bank with more than 25 years in development, operations and finance within the insurance industry. Kelly has completed financing for hundreds of agency transactions, and she was previously Vice President of Strategic Markets at a leading insurance lending institution. Her career also included tenure with KPMG, Dodson Group, GE Insurance Solutions and Brooke Capital Advisors where she worked with transactions for entrepreneurs in the insurance industry. Kelly co-founded Quivira Capital. She is a graduate of Kansas State University and has been a broadly licensed agent for P&C and E&S. She is an active speaker at agency events and participant in NAMIC, TMPAA and various insurance agency organizations.
Mike Strakhov joined Live Oak Bank with more than 25 years in the Insurance industry. He has held positions as a claim adjuster, commercial producer, personal and commercial lines marketing manager, territory manager and the head of a large multi-state agency. Prior to Live Oak, Mike served as Branch Vice President of CNA Insurance Companies for the state of Ohio. His career also included tenure with Chubb Group of Insurance Companies where he was a Branch Manager responsible for all aspects of management for the states of Alabama and Mississippi. He then moved to First Niagara Risk Management (FNRM) in various roles including, Interim CEO and Managing Director of Field Operations of a $67M+ revenue insurance broker consisting of 90 producers across NY, PA and CT. As a member of the FNRM acquisition team, he participated in the review and analysis of a significant number of potential agency acquisitions. Mike has a Master in Insurance Management from Boston University and a CPCU designation.
Matthew Richter is a Senior Loan Officer supporting growing businesses within the insurance industry nationwide. Prior to joining Live Oak Bank, Matthew held various commercial lending positions providing capital to small and medium sized businesses through both working capital and fixed asset credit facilities. Most recently, Matthew served as a Commercial Relationship Manager for Talmer Bank and Trust, where he was responsible for the development and management of comprehensive commercial banking relationships with lending commitments in excess of $100 million. Matthew’s clients benefit from his expertise in thoughtful credit structures and financial analysis through improved access to capital and consultative banking relationships. A native of Northern Michigan, Matthew began his banking career in Metropolitan Detroit and holds a Bachelor’s degree with dual concentrations in Finance and International Business from Grand Valley State University in Grand Rapids, MI.
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