Jaco Insurance Agency | Application Preview
Jaco Insurance Agency is seeking government grants to support salaries and operating expenses as they continue to grow their business. Over the past year and a half, the agency has focused on training and establishing contracts with various insurance carriers, gaining valuable insights into industry trends. The owner plans to expand the team with new hires in property and casualty lines while also venturing into Medicare and Medicare Advantage plans.
The application highlights the owner's resilience in launching a new business during the pandemic without external loans or financial assistance, relying solely on personal investments. Despite previous financial challenges, including missed opportunities for funding due to the lack of prior payroll, the owner is determined to advance the business model.
In terms of competition, Jaco faces major players like State Farm, Farmers, and Geico, who benefit from substantial marketing resources. However, the agency's competitive advantage lies in its independent status, allowing it to work with multiple carriers. This flexibility enables personalized service and tailored solutions for clients, emphasizing the importance of building strong relationships for financial protection against unforeseen events. Overall, funding approval is crucial for the agency to continue its growth trajectory and service enhancements.
-
General Information
Business Registration Number: Jaco Insurance Agency
Location: Cabot, AR, United States
Length of Operation: 1.5
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
-
Funding Usage
Salaries and operating expenses
-
Business Plan
This year and a half has been a lot of training and getting contracted with different carriers. We have become aware of the insurance trends and processes of our carries. I intend to hire additional help in the property and casualty lines. We also are branching out into Medicare and Medicare Advantage plans. I have manage to create a new business in the middle of a pandemic, with no loans or financial help. I have invested my own funds and invested back in the business. I have been in the insurance business for 10 years and decided to open my own business in Feb of 2020. I had arranged for a loan, but all new loans where shut down and only PPP loans where made available. I did not have a payroll the year before so I got nothing. I need funding to keep moving forward with my business plan.
-
Self Identified Competition
My top competitors are companies like State Farm, Farmer and Geico. They have a lot of funding for awareness. I am an independent agency contracted with several carriers. This gives me the opportunity to shop for the best plan for my customers. I can create a relationship with my customers and help them plan for financial protection in the case of an unexpected emergencies.
-
Contact Applicant
Subscribe to our Administrator Dashboard to gain full access to this application. Learn More
