Managing finances can get complicated when operating a business. And with the ongoing pandemic, companies all over the world have been negatively impacted and many are struggling to stay in business. The cost of insurance for a business can be significant, especially if a large amount of coverage is needed. Businesses have the option to liquidate assets to pay for the premiums upfront, but this is not always the most cost-effective choice. The solution for many is to finance their insurance premiums. In fact, Premium Financing seems to be the “best kept secret” in the financial industry recently.
What are the benefits of insurance premium financing?
Insurance Premium Financing is an effective option for businesses that want to finance their insurance premiums instead of paying with cash. Among the many benefits are:
It allows businesses to attain a large amount of insurance without having to significantly impact their cash flow or liquidate their investments to cover the expense.
It eliminates a substantial up-front expense.
There are finance multiple policies at once, allowing for one convenient payment for all coverage.
It provides the needed or required coverage without having to liquidate assets.
Business owners are able to maintain the use of their cash flow and use it for operations or to grow the business.
Choosing the Right Premium Financing Advisors
While it can be a useful tool, premium financing adds a level of risk and complexity to business insurance. You can rely on our pros! Solis Credit offers affordable, widespread credit solutions to consumers throughout the Caribbean. Our goal is to make insurance affordable for everyone.
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