Charles BaileyOwner of The Bailey Group, TampaThe new insurance company will offer a wider variety of insurance and HR service options to small business owners. Bailey Enterprises Holding, Inc., the new company, was 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 stated. “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 portfolio of companies, as well as 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. BEH now offers general liability, business property, business interruption, hazard, and workers compensation insurance. They are licensed to serve clients in more than 40 states.
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 in discussions with Best in Breed suppliers 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 stated. “Dealing with multiple vendors to protect and operate their enterprises is not efficient. Finding a trusted partner is difficult and time-consuming. My company is well-known in the industry. Commercial lenders are looking to streamline their loan origination processes by referring clients to a trusted partner who can provide all of the coverage needed to qualify for a new loan. We are now in a position to offer this to them.”