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Tuesday, Aug 18, 2015
Brightway Insurance Establishes $20 Million Financing Agreement with SunTrust Bank
Capital will speed national expansion
JACKSONVILLE, FLA. (August 18, 2015) — Brightway Insurance, the seventh largest privately held Personal Lines independent insurance agency in the country, has received $20 million in bank financing through SunTrust Bank to help fund its national expansion, the company announced.
Brightway is a national property/casualty insurance agency selling through a network of franchised locations. The company started in 2008 and has grown to 117 locations in 10 states.
“We are thrilled to have entered into this relationship with SunTrust,” said Brightway Founder and Chairman, David Miller. “Owning your own business is the American dream, and we want to bring that opportunity to people everywhere. In turn, Brightway agents will bring expert counsel and more choice in insurance companies to consumers everywhere, ensuring they have the coverage they need at prices they want.”
Miller said: “This financing will help us to continue to invest in our systems, and, more importantly, in our people. We select the best people to provide our customers with peace of mind knowing that all of their insurance needs are being met by their Brightway agent. We will continue to grow and expand across the country by continuing to make those investments.”
Brian Parks, SunTrust President & CEO, Jacksonville/North Florida Region said: “Brightway is a dynamic, growing enterprise and we are pleased to provide the tailored financial solutions that will help them achieve their long-term business objectives.”
In 2015, Brightway was named to the Inc. 5000 Fastest Growing Private Companies in America for the 8th consecutive year, was recognized as America’s No. 1 Franchise to Buy by Forbes magazine in the under $150k category, and named a Top 500 Franchise by Entrepreneur magazine for the second year in a row.