From cash-poor to opportunity-rich

A & D Insurance

Interview with owner Ann Colina, Lendr client since 2011

  • Industry

    Insurance

  • Location

    Miami, Florida

Ann Colina and her husband have been selling property and casualty insurance for 16 years in Miami, Florida. During the recession they were hit hard, and cash flow became scarce. Many customers started cancelling or downgrading their policies to make ends meet—in many cases forcing A and D to return commissions they had counted on. They turned to Lendr in 2011 to help get back on their feet, starting small and gradually increasing their funding amount. Today, A and D is back in the black and ready to face their future with confidence.

  • Lendr

    What challenges were you facing during the recession?

    A & D Insurance

    I had more people walking into my office to cancel insurance than to buy. We went for eight months without getting a commission at one point. I don’t know how we survived. We were basically broke.

  • Lendr

    How did you choose Lendr?

    A & D Insurance

    I talked to private investors and three different banks to get financing. They all said the same thing. No. A friend of a friend told me about Lendr. They helped me when nobody else would.

  • Lendr

    What was the application process like?

    A & D Insurance

    Everything happened exactly the way they said it would. They got back to me really quick. They told me to start small and then go higher. When we had 50 percent of the advance paid off, I was able to get more.

  • Lendr

    How are you doing now?

    A & D Insurance

    We’re great. Everything is so much better.

  • Lendr

    What’s the best thing about working with Lendr?

    A & D Insurance

    The fact that they get you the money fast and their level of service. When we got slow in 2014, we didn’t want to renew. I thought [Lender] was going to say ‘too bad.’ But they worked with us [on a temporary payback structure] for four months, and that got us back on our feet.

  • Lendr

    What would you tell other small businesses that need funding help?

    A & D Insurance

    They’ve been my savior. I’m not kidding. When we really needed money to survive, [Lender was] the only one who had faith in me. I would recommend them 100 percent to anyone. They go above and beyond. They give you a chance.

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