By Brian Klemstein
Group Senior Vice President
Wintrust Agent Finance

As agencies consider a term loan or line of credit to help fuel their growth and improve their business, many are left wondering if a fixed rate or a variable rate is better for their business.

Have you considered the options?

A variable interest rate can result in a lower payment in the short-term; however, it carries the risk of a rising rate later down the line. This can result in significantly higher payments. Unfortunately, many lenders craft term loans with variable rates, balloon payments, and uncertain future rate adjustments.

A fixed interest rate avoids the risk that your payment can significantly increase over time. This will give you peace of mind knowing exactly how much your payment will be each month. With the current rising rate environment we are all facing, now is the time to consider a fixed interest rate loan.

At Wintrust Agent Finance, we have been lending to insurance agents for over 16 years. We finance agent term loans on a fixed basis. Our loan documents are clear and we provide every customer a payment schedule.

If you have experienced rising payments and want to lock in a lower fixed rate loan, then it is time to give us a call at 1-855-552-5626 or visit us at agentfinance.com.   

Wintrust Agent Finance is a division of Lake Forest Bank & Trust Company, N.A.