CMFC will finance your general insurance premiums and arrange for its payment when it is due on your behalf. You then repay CMFC by way of monthly instalments. We can finance the premiums on most commercial and residential insurance policies.

CMFC will finance 80% of the cost of your premium with a maximum repayment period of ten (10) months.

The benefits of premium finance to you:

• Budgeting of cash flows - The key benefit of premium finance to you is that the monthly premium instalment can be part of your budgeting process. Rather than having to allow for large payments of premium at a certain time during the year, the monthly payment can be scheduled along with rent, utilities and payroll.

• Increased leverage of available assets - Business loans require an asset to be mortgaged as collateral and many companies are limited in their borrowings by the amount of unpledged assets. Premium finance allows you to be able to use the asset of the insurance policy to secure a loan. This leaves other assets on the balance sheet untouched and free for other uses.

• Alternate source of capital - By using premium finance you do not have to use other sources of capital. Premium finance offers an additional line of credit to assist in cash flow management.

• Fixed rate for the period of the loan

It is important that you insure your valuables. Visit the Homeowners Insurance section of our site for further details. You can also submit your details on-line and get an insurance quote.

If you would like to know more about insurance premium financing, please contact CMFC via email: st.lucia@clicomortgage.com or give us a call at (758) 451-LOAN (5626).