Jacksonville, FL – September 25, 2018 We Insure Group, Inc. announced that is has successfully refinanced $3.6 million through the closing of a new term loan.
The successful completion of this refinance is another project to add to the growing success of We Insure Group, Inc. The company is growing rapidly, and continues to take on new technology, growing infrastructure, and franchises. Phil Visali, Chief Executive Officer said, “We are evolving and this investment in our growth will continue to make We Insure a major competitor in the marketplace.”
This new credit agreement provides a $3.6 million term with CenterState Bank. The new terms with CenterState Bank offer a significant savings in interest from the previous term. Chris Salameh, VP of Sales, stated “CenterState has been quick, efficient and competitive with all of our needs over the past two years. This ultimately culminated in a solid business working relationship that we’re extremely proud of.”
The proceeds from the initial interest savings will be used towards corporate growth. It allows the company to grow cash flow capacity and increase funds for general corporate purposes. “CenterState was innovative and open minded in their approach and consequently realized the inherent value in the residual income of an insurance-based book of business. We expect our partnership with CenterState to be an integral part of our future growth plans” said Dominic Raices, Chief Financial Officer.
This refinancing provides We Insure Group, Inc. a distinct advantage. The new loan structure allows We Insure Group, Inc. with additional flexibility to further enhance their position in the insurance industry. Phil Visali stated, “the commitment of our leadership and forward-thinking decisions is creating great momentum for the coming years.”
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