Month: April 2016

Advantage for your client

Premium financing doesn’t require any collateral other than the insurance premium itself.

• Premium finance loan documents are easy to understand and explain.
• Interest rates are dictated by the financial markets but normally very reasonable.
• Premium finance loans are not required to show up on your insured’s balance sheet which means that it is a loan that doesn’t tie up nor impair his borrowing ability.
• There can be positive tax implications due to business interest loan expenses normally being deductible.
• Short term loans that they can pay off early with no kind of penalties.
• Premium finance loans aren’t generally tied to the borrower’s credit scores when standard lending terms are utilized. Choosing to use a premium finance option isn’t just for your business clients lacking in financial health. Many financially strong clients use premium financing to better manage their cash flow and understand the importance of having access to an easy and convenient additional lending source in these economically challenging times.
• Advantages for the Agent
• Helps you to sell insurance.
• Helps you to build another revenue stream.
• Premium financing can also help you to control your client at renewal.

Overall, the primary benefit to entering into a load factoring relationship is a guaranteed and timely flow of funds that will allow a trucking company to continue with their business operations. However, another benefit is the added safety you have from the factoring company verifying the identity and integrity of which load brokers you are dealing with and their history of forwarding the funds owed to their trucking clients. There are many other value adds such as road hazard and fuel discount cards which will vary by factoring company.

Do you also want a lower down payment at renewal time for your truck insurance?

We have done much due diligence in selecting our factoring partner based on their excellent reputation for great customer service and timely delivery of factoring funds to their clients.

Some of their many benefits are no signup fees, no volume requirements, free credit checks and some of the lowest rates and highest cash advances in the industry!

When you set up your factoring relationship with our preferred Factoring Partner we will Finance your insurance premium with a much lower down payment, usually as low as 10% down. And we will keep it that low next year when your insurance renews as long as you stay a factoring client. Another benefit of partnering with Risk Referral Network!

Give us a call and we will get you started today!

For more information e-mail: factoring@riskreferralnetwork.com

At Risk Referral Network, we believe that having a strong relationship with a Safety and Compliance company is key to preserving and protecting your trucking insured’s ability to stay on the road and thereby stay in business.

We have formed a partnership with a Safety and Compliance Company that is know for their professionalism and expertise in helping your clients to stay out of trouble with the D.O.T.

Give me a call today and we can get you started with their services immediately. We also may be able to finance the costs of their Safety and Compliance services at renewal time!

We have a partnership with a finance company that specializes in the financing of big truck motor and transmission overhauls and rebuilds. They consider themselves to be a “story” lender which in the banking world means that they will listen to your insured’s story and therefore look beyond their credit score in making the loan.

Give me a call if you have a question or need.

We have a new partnership with a national bank for financing.

Give me a call today and lets see if it is a good fit for your business model.