Cash flow is the net amount of cash being moved into and out of a business. At a fundamental level, ...
Insurance Premium Finance. A smarter way to insure your business.
Insurance can be a complex and costly matter that can place significant strain on your financial resources. With the rising premiums, businesses may find it challenging to cover the upfront costs, leaving them vulnerable to inadequate coverage.
Premium funding offers a cost-effective financing arrangement that enables you to effectively manage your cash flow by spreading your premium payments over 10 monthly installments, rather than one large upfront payment. You have the flexibility to finance multiple insurance policies from various insurers and repay us through regular installments.
With Dynamoney’s insurance premium finance, we provide the necessary funding to free up capital in your business, allowing you to allocate it towards your priorities.
Maximise your cashflow today. Apply now for Insurance Premium Funding.
- Enjoy flexibility with our no fixed term contracts
- No property security required
- Easy monthly instalments
- Zero ongoing fees
- No directors guarantees
- Not recorded as borrowings
Am I Eligible?
Approval requirements for premium finance are:
- Current ABN
- Policy Details
- Minimum financed amount of $1,000.00
- Maximum financed amount of $1,000,000.00
Insurance Premium Funding 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, you can roll multiple premiums together into a single loan, so you only have to make one monthly payment 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. Don’t 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 Dynamoney’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. You will 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 take out premium finance and use the retained capital to fund business development or growth. If you are a small business with volatile cashflow, insurance premium funding can be a really clever and inexpensive way to smooth out your operating costs.
- Establishment, service, and documentation fees apply. For applications submitted before 10 am. Interest only payable on drawn funds. Terms and conditions apply. Please contact our team on 1300 001 420 for details.