Premium Finance NewsDown Payment and Installment Requirements
The following chart below highlights what Friend Premium Finance expects from our clients and what our clients can expect from us. Also, FPF will finance carriers with a B+ or better rating and a V or better size. These terms must be adhered to in order to avoid any funding or processing delays. Exceptions must be made in advance by calling 866-374-3630 or e-mailing info@fremfinassociates.com.
| Rule | Default Down Payment % | Default Installments |
| Standard Plan for new business (new to the PFC) | 20% | 9 |
| Renewal Business (Renewal to the PFC) | 20% | 9 |
| 6 Month Policies | 40% | 3 |
| Quarterly Installments | 40% | 3 |
| 30 Days to CX | 30% | 8 |
| Assigned Risk Policy | 35% | 8 |
| Auditable Policy | 25% | 9 |
| PUC/ICC Filings | 30% | 8 |
| Short Rate Policies | 30% | 9 |
| Work Comp Policies | 35% | 8 |
| Workers Compensation Assigned Risk | Required Management Approval | |
| Minimum Earned Premium | Down payment must be equal to or greater than minimum earned | |
| D&O Policies | Requires Management Approval | |
| Liquor Law Liability | Requires Management Approval | |
| Loans over $100,000 | Can be quoted by your agency, but management approval is required for acceptance | |