SBA Insurance Industry Leader Launches New Firm
Charles Bailey, owner of The Bailey Group, Tampa, has launched a new insurance company that will offer an expanded menu of insurance and HR services to small business owners nationwide. The new firm, Bailey Enterprises Holding, Inc. (BEH), is an insurance company licensed in Florida that will build on Bailey’s well-earned reputation as the nation’s leading provider of business owner’s life insurance required for SBA Loans.
“I’m proud of the work we’ve done up until now and the company that we’ve built,” Bailey said. “Our technology changed the way commercial lenders issue SBA loans by making it easy for their borrowers to get the life insurance coverage they need and for lenders to have regular reports on their borrowers’ coverage. Now, we will expand our offerings to be a more complete partner for both small businesses and the financial institutions that serve them.”
Bailey says the new company builds on the trust that The Bailey Group has earned from its national client base and will enable him to bring them additional resources and access to organizations that will allow them to grow and protect their businesses and retain their best talent. BEH will provide services through its own portfolio of companies, other companies it acquires and through strategic partnerships.
Brier Grieves Insurance (BGI) will be the first agency to strategically partner with the new insurance company. BGI is a family-owned business that has been successfully operating for 30 years that provides all business Property & Casualty insurance offerings required for approval of a new SBA loan. The company offers General Liability, Business Property, Business Interruption, Hazard, and Workers Compensation insurance, all of which are now available through BEH. They are licensed in over forty states and serve clients on a national basis.
In the near future, BEH will make available to small business owners a number of HR outsourcing and administrative services, including human resources, employee benefits, payroll, and workers’ compensation administration. The company is currently in discussions with Best in Breed providers to become strategic partners.
“The goal is to provide a one-stop shop for small to medium-sized enterprises and the financial institutions that serve them,” Bailey said. “Dealing with multiple vendors to protect and operate their enterprises is not efficient. Finding a trusted partner can be difficult and time consuming. The industry already knows my company. Commercial lenders want to streamline their new loan origination process by referring their clients to a trusted partner for all of the coverage required to qualify for a new loan. We are now in a position to offer this to them.”