Business insurances can be complicated and expensive, representing a significant one-off annual cost that can put serious pressure on your cashflow when the premiums are due.
Benefits to Businesses
Insurance Premium funding will free up money in your business for other investments or expenses. It's Tax- deductible, you can claim a deduction on your interest payments. It's a low cos t solution, thanks to competitive fixed interest rates. Plus you can incorporate multiple policies on the same payment plan.
Calculate Your Repayments
Insurance Premium Finance Solutions
Business insurances can be complicated and expensive, representing a significant one off annual cost that can put serious pressure on your cashflow when the premiums are due. Insurance premium finance enables you to avoid these lump sum payments by turning them into monthly payments
And you can roll all of your insurance premiums together, so that you have one simple monthly payment to one party, rather than complicated multiple party payments to various insurers, at different times of the year.
Free up working capital and maintain liquidity
Predictable cash flow and ongoing liquidity are a requirement for any business. Insurance premium funding can improve cash flow management without affecting established borrowing facilities by freeing up working capital.
Easy Monthly Instalments
Premium finance allows you to avoid multiple lump sum insurance premium payments by paying monthly instalments that suit and simplify your cashflow. Interest rates are fixed and competitive, so you know exactly how much you’ll have to pay, and your other financing won’t be affected. What’s more, because you can roll multiple premiums together into a single loan, you only have one payment monthly to one party.
Spreading lump sum payments over time reduces the likelihood of underinsurance. Comprehensive insurance programs are more accessible when cash flow is not adversely impacted by large upfront payments. And you don’t need to go searching for cash when it comes time to pay the premiums – just manage your payments as a normal monthly expense.
No tricks or hidden costs
With Grow Finance’s insurance premium finance, you are guaranteed to have access to fixed, competitive interest rates. There are no ongoing loan service or security fees and you don’t need any security apart from the insurance policy itself. And, of course, you always have complete transparency about what you’re insured for and for how much.
Insurance premium finance may also be a tax effective finance strategy, with both the premium and the interest payable being potentially allowable business expense deductions.
How does it work?
Your insurance broker will put your policy in place as normal, but instead of giving the invoice to you to pay, we set up an agreement for the premium to be paid through the finance contract. We then pay the full premium to the insurance company, and you pay us in monthly instalments over the next twelve months.
Even if you do have the operating cashflow to cover your premium costs, it may make sense to use take out premium finance and use the retained capital to fund business development or growth. And if you’re a small business with volatile cashflow, insurance premium funding can be a really clever and inexpensive way to smooth out your operating costs.
The application process is simple and online with approval generally provided within 5 minutes for most policy types
Apply for Insurance Premium Finance
It’s fast and easy to get the finance you need with Grow Finance.
Here’s what you need to get started:
- Policy Details
- Minimum financed amount of $1,000.00
- Maximum financed amount of $1,000,000.00
- Rate from 4%
- Fill in the form or call 1300 001 420 to request a free consultation
What Our Clients Say
Business is hard enough at the best of times, but to come across a business partner that truly understands what you are trying to achieve is a breath of fresh air.
Grow Finance helped me get a used truck for my business when I need it the most. Thank you!!
Purchased my first work vehicle ideal for my business. Great communication and very friendly people to deal with. Highly recommend company!