Finance Bond Premium

September 22, 2014


Insurance premium finance companies are comfortable with financing secured policies that have a guarantee of return premium in the event of cancellation for any reason.  The interest rate is commensurate with the risk – fairly low.  If however, an insurance agency would like to finance an insurance policy that is “Fully Earned” such as an Audit Premium or Bond Premium, premium financing is declined because in the event of cancellation, the insurance carrier WILL NOT return the unearned premium.

Premium Finance Associates WILL FINANCE both Audit Premium and Bond Premium.  Unlike standard premium financing where almost all policies are approved, each Insured wishing to finance Audit and Bond Premium must be financially underwritten.  Agents present the following to their insured:

1.      One Page Application

2.      6 Months Bank Statements

3.      6 Month Merchant Account Statements (if applicable).

Decisions are rendered within 24 hours and terms range from 4 - 8 months.  If interested, please contact Premium Finance Associates, LLC below.

Bill Friend, Principal

7603 First Place Dr., B-12

Cleveland, Oh. 44146

866.FRIEND.0 (374.3630)

866.839.3090 fax

216.225.4321 cell

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