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.
- Tax Deductibility
- 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.