Agency Loan Services

Acquisition Financing

Westfield Bank provides financing for Westfield agencies to acquire other independent insurance agencies. Our understanding of the agency business means we can structure creative loan terms and very competitive pricing to help make the acquisition a success.

Perpetuation Loans

Westfield Bank knows how important the independent agency system is to Westfield Group. So we have developed market-leading expertise in financing an agency principal's sale of stock to key producers and staff members. We offer flexible payment terms including options for long-term, fixed rate financing.

Lines of Credit

Having a Line of Credit available for immediate use makes good business sense. Westfield Bank can establish Lines of Credit for agencies to be used for technology upgrades, Errors & Omissions insurance, furniture and fixtures, and other needs.

EasyLine

Available exclusively for “Platinum” agencies, this special Line of Credit has minimal underwriting requirements that permit rapid approval in as little as twenty four hours.

Office Real Estate Loans

Long-term, fixed rate financing is available for purchasing, refinancing or building commercial real estate for Westfield agencies.

New Producer Financing

We're here to help agencies grow their businesses. A Producer Loan can be used to help offset any negative cash flow that an agency incurs as a result of hiring a new producer. The loan terms generally call for interest only payments for 12 to 24 months, followed by repayment terms over 36 to 48 months.

Book Transfer Financing

Westfield Bank will help agencies in either purchasing a book of business from another agency or transferring a book of business from another carrier to Westfield Insurance.