Title Insurance was the first product offered by Enterprise Insurance Services (EIS). It is a unique kind of insurance because, unlike all other kinds of insurance that protect against unforeseen future events, title insurance focuses on the past. This insurance is used by businesses and individuals during the loan process to ensure that real estate property being purchased has no other claims against it and will be owned by the intended in its entirety. It is also used to guarantee that no other lender has rights or liens to that property. In essence where real estate is used as collateral, it insures rightful ownership and therefore is critical to a loan’s closing .
From this it is obvious that many small business owners need title insurance. Enterprise Bank realized that it could simplify the loan process by providing title insurance for their clients. Since all title insurance pricing is standard, EIS is able to add additional value to the client without any additional cost.
EIS works with Commonwealth Land Title, one of the top five title insurance companies in the United States, to provide title insurance. EIS also works with four approved attorneys, each with a defined area of expertise. You and your loan will be paired with an attorney that have skills specific to your needs. For example, if you have an SBA loan, one of our attorneys is approved under the SBA 504 program. This results in cost and time savings for those Enterprise Bank clients with SBA guaranteed loans who need title insurance.
- The insurance product is not a deposit or other obligation of, or guaranteed by, the bank or an affiliate of the bank.
- The insurance product is not insured by the FDIC or any other agency of the United States, the bank, or (if applicable) an affiliate of the bank; and in the case of an insurance product that involves an investment risk, there is investment risk associated with the product, including the possible loss of value.