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).
Other advantages to your business are that funding will allow your business to spread the cost of your annual insurance premiums over smaller, more manageable monthly instalments. This facility can be organised with Macquarie Pacific Funding.
The advantages of this facility are:
- Improve business cash flow
- Fast, simple application process – typically approval is complete within 24 hours
- Ability to make additions to existing loans or renew policies without the need for additional paperwork
- Free up working capital
- Interest costs – are usually tax deductible
- Interest rates are fixed so you are protected from interest rate fluctuations
- No ongoing loan service fees
- No monthly account keeping fees
- Competitive interest rates and terms
- Pay your insurance as it’s used rather than fully up-front
- Payment via direct debit from your bank account or credit card