Adnan Nafa Agency | Application Preview
Adnan Nafa Agency is seeking government grants to support its expansion efforts. The funds will be used to hire four additional team members, covering payroll expenses and necessary licensing for the new hires. The business plans to open new branches in Maryland, Washington D.C., and Virginia, which will also involve capital for office rentals.
The agency has experienced steady growth since 2019 and aims to significantly increase its client base, currently over 3,000, by expanding its operations. Key competitors include Geico, Allstate, and Mass Mutual life insurance. However, Adnan Nafa Agency's competitive advantage lies in its ability to offer a broader range of financial services, including banking options and mortgage loans, which competitors do not provide. This unique offering positions the agency for continued growth and success in the market.
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General Information
Business Registration Number: 83-3160921
Location: Alexandria, VA, United States
Length of Operation: 3
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: NO
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Funding Usage
hiring 4 more team members which will require more funds for payroll expenses and investing in required licensing for the new hires. Expanding the business to three other branches in the DC, MD, and VA areas.
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Business Plan
open new branches in MD, DC and VA states in which my business is licensed in. Hire new 5-7 employees in these offices which will require more capital and office rental fees. my business has been growing at a steady and rapid speed since 2019. I have an opportunity to triple the size of my existing book of business of over 3000 clients.
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Self Identified Competition
Geico, Allstate, and Mass Mutual life insurance. at State Farm, I am able to offer financial services that both Geico and Allstate are unable to do so such as Banking services with personal, business checking, and savings accounts along with personal and business credit cards. I can also offer mortgage loans to my clients aside from insurance products that I currently offer.
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Contact Applicant
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