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If an agency wants cash for an expansion or an acquisition, it can be hard to come by, as agencies’ most valuable asset — its book of business — can be difficult for traditional lenders to collateralize.

Rick Dennen, the CEO of Carmel, Ind.-based , thinks he’s found a way to fill that niche by letting agencies borrow money against the commissions they’re already earning. He gave IJ a brief outline of this new borrowing option at the Professional Independent Insurance Agents of Illinois convention in Springfield.