Premium funding is a short term loan that allows you to pay your insurance premiums and associated charges by monthly direct debit over an agreed period (typically 6-12 months).
The benefits of premium funding are:
Conserve your Cash Flow
Premium Funding allows you to eliminate an advance outlay of 100% cash, enabling you to spread payment over a period of time and utilise liquid funds for income generating activities.
Additional Line of Credit
Premium Funding acts as an additional line of credit as it does not interfere with your established financial arrangements and may even reduce your current line of credit.
No Additional Guarantees
No additional financial guarantees are required, as security is absorbed over the insurance policies and funding enables you to utilise assets for your other business interests.
In addition to commercial insurance premiums being tax deductible, so is the interest charged on Premium Funding.
Ease of Transaction
Payment is via direct debit from your bank account or credit card – simply set, and forget.
We have relationships with a number of Premium Funding organisations and would be pleased to provide a competitive quotation for your consideration.