Insurance Premium Funding
This product enables businesses to finance their annual insurance premiums for a term of 12 months. Types of insurance can include both cancellable and non - cancellable - commercial motor vehicle insurance / registration, workers compensation insurance (please note that personal insurance cannot be financed)
Benefits
- Increase cash flow for business as you are not paying out large sums of money to cover this insurance premium
- Maintain other forms of credit such as overdraft facilities or lines of credit enabling you to grow your business
Features
- Minimum premium $5,000 and upwards
- Minimum term 6 months and maximum term 12 months
- Repayment option is monthly
- The insurance premium is generally the only security required although on large transactions the guarantee of the directors may be required
- Repayment by d-debit