Frequently Asked Questions

A traditional fully-insured group plan has fixed monthly premiums regardless of claims, while a level-funded plan sets predictable payments but refunds unused dollars if claims are lower than expected. Level-funded plans offer cost transparency and potential savings for healthier groups. At Mccullough Insurance Group, we help Chicago employers evaluate which structure aligns with their risk tolerance and budget.

Commercial lending in that range involves matching your business profile, cash flow, and collateral to lenders with specific underwriting criteria. Each lender evaluates credit, revenue history, and purpose of funds differently. At Mccullough Insurance Group, we review your financials and goals, then place your deal with the lender most likely to approve favorable terms quickly.

Small businesses should add dental and vision when competing for talent in tight labor markets or when employees request broader coverage. These ancillary benefits are typically low-cost and significantly enhance perceived compensation value. In Chicago's competitive hiring environment, Mccullough Insurance Group often recommends including them as part of a complete benefits strategy.

An SBA loan is a government-backed financing program designed to help small businesses access capital with favorable terms and longer repayment periods. Qualification depends on credit history, time in business, cash flow, and collateral availability. At Mccullough Insurance Group, we guide Chicago business owners through SBA eligibility and match them to lenders experienced in these programs.

Yes, certain lenders specialize in startups or newer businesses using alternative criteria such as ROBS structures, equipment-backed loans, or factoring against receivables. Traditional banks often require two years of financials, but non-bank lenders may approve based on projections and collateral. Mccullough Insurance Group connects Chicago entrepreneurs to lenders suited for early-stage deals.

Key cost drivers include employee headcount, age demographics, plan design, network type, and prior claims history. Geographic location and industry risk also influence premiums. At Mccullough Insurance Group, we work with multiple carriers to structure plans that balance cost control with competitive benefits for Chicago-area businesses.

Factoring advances cash against outstanding invoices, typically within 24 to 48 hours, allowing businesses to cover payroll or expenses without waiting 30 to 90 days for customer payments. It's ideal for companies with strong receivables but limited working capital. Mccullough Insurance Group places factoring deals with lenders who evaluate your customer creditworthiness, not just your own.

A bridge loan provides short-term financing to acquire or stabilize a property before securing permanent financing or selling. It's commonly used when timing is tight or the property needs repositioning. At Mccullough Insurance Group, we help Chicago investors structure bridge loans ranging from hundreds of thousands to several million, matched to project timelines and exit strategies.

Annual reviews allow employers to adjust for workforce changes, rising costs, new carrier options, and evolving employee needs. Market conditions and plan performance shift yearly, so staying proactive helps control expenses and maintain competitiveness. Mccullough Insurance Group encourages Chicago employers to reassess benefits regularly as teams grow or business goals change.

The biggest mistake is applying to the wrong lender without understanding their specific underwriting criteria, which wastes time and can hurt approval chances. Each lender evaluates deals differently based on industry, collateral, and cash flow. At Mccullough Insurance Group, we pre-qualify your deal and strategically place it with lenders aligned to your profile.

Equipment financing allows you to borrow against the equipment itself, preserving cash for operations, payroll, and growth. Lenders typically fund 80 to 100 percent of the equipment cost with terms matching its useful life. Mccullough Insurance Group connects Chicago businesses to equipment lenders offering flexible structures and fast approvals.

Yes, brokers access multiple lenders with varied criteria, increasing your chances of approval and better terms by matching your deal to the right partner. Direct bank applications limit you to one set of underwriting rules. At Mccullough Insurance Group, we leverage lender relationships and deal structuring experience to improve outcomes for Chicago business owners.