Delray Beach, FL, January 29, 2019 --(PR.com
)-- DRB Financial Solutions’ (DRBfinancial.com
) affiliate Producer Advance (ProducerAdvance.com
) continues to grow at an unprecedented rate. The company is pleased to announce that it has closed a $30 million insurance commission financing transaction with one of the largest insurance producer groups in America. The deal involved advances of renewal commissions on a variety of property and casualty policies and is the largest in a string of recent transactions initiated by Producer Advance.
Rob Axenrod, the President of Producer Advance, commented, “This is a pivotal transaction for the company. Producer Advance has exceeded even our most optimistic expectations for 2018, and we are excited about the company’s prospects for 2019 and beyond.”
Since its inception in November of 2016, Producer Advance has provided over $80 million in financing across a wide variety of insurance lines including short & long term medical, fixed indemnity, uninsured products, property & casualty, Medicare, automobile, homeowners, renters, and others.
About Producer Advance: Producer Advance is part of the DRB Financial Solutions family of companies. Founded in 2016, Producer Advance offers fast, low-cost liquidity for insurance producers and brokers who have earned, but not yet received, commissions from the sale of an insurance product. Producer Advance provides commission advances for a wide variety of insurance products including Short Term Medical, Long Term Medical, Fixed Indemnity, and Uninsured Products.
About DRB Financial Solutions, LLC, (DRB) provides liquidity solutions to individuals and small/medium sized businesses holding high quality but illiquid assets. Having raised over $1 billion in capital and developed a robust origination platform, DRB is a market leader in five major lines of business: USClaims (USclaims.com
), DRB Capital (DRBCapital.com), Echelon Medical Capital (EchelonMedicalCapital.com), CRG Financial (CRGFinancial.com), and Producer Advance.