How The Allstate Agency Loan Process Works:

Closing on your Allstate agency loan involves providing McQue Capital with the necessary closing documents e.g. Allstate purchase agreement, Allstate commission reports, etc. A week prior to loan closing, you’ll receive several loan documents via USPS or email that must be signed in front of a Notary public and returned to us before we can transfer the funds to your account. After closing, we’ll continue to review your loan’s performance and reconcile Allstate commission statements on a regular basis which may require reporting from you on a monthly or quarterly basis depending on the size of the loan for your Allstate agency.

The entire loan process typically takes one month from start to finish so it’s imperative that you start as early as possible to ensure that we’re able to complete the process by your target closing date. Along with your completed Allstate loan application and personal financial statement, we’ll require various other Allstate & business financial documents e.g. tax returns, Allstate TPP reports and Allstate commission statement reports. These documents ensure that we’re providing you the best possible loan tailored specifically for your Allstate agency. Once we have all of the proper paper work and documentation our Allstate agency loan can close in a matter of days.

Underwriting an Allstate agency loan involves submitting the Allstate loan application and necessary financial information needed to secure loan approval. During the underwriting stage McQue Capital will analyze the cash flow of your transaction and discuss your transition plans with you to structure an Allstate loan that best meets your needs. The underwriting stage is complete once your Allstate loan request has been approved, at which time you move into the loan acceptance stage. During this stage you will receive a commitment letter displaying the terms of your financing offer and will be asked to sign this letter to indicate your desire to move into the final stage of the Allstate loan process.

Once you’ve reviewed and accepted the terms of your Allstate loan, we will work with you to set a closing date. On the Allstate loan closing date, we will transfer the funds directly to your Allstate agency’s primary operating bank account. This is typically completed by noon and once you’ve received the funds your welcome to use the cash for any legitimate business purpose.