Insurance Commission Financing
North Fork Partners provided debt financing to a wholesale life insurance brokerage company. The Company’s client book generated cash flow from the recurring commissions on life insurance sales and renewals. North Fork Partners segregated the insurance carrier paid commissions to the Borrower into a trust account to create a pool of collateral. Through this structure, North Fork Partners’ lien was perfected and the borrower was able to meet required debt service despite prior bad credit and default history.