Client Cash Flow Benefits

As a business owner, you know incoming cash flow doesn’t always match what’s going out. This is particularly true when larger expenses like business insurance premiums are due.

FIRST Insurance Funding of Canada (FIRST Canada) and your commercial insurance broker have partnered to provide a convenient solution for business owners.
With FIRST Canada’s easy monthly installments you can spread the cost of your annual commercial insurance premiums over the policy term. This allows you to smooth out your cash flow, avoid a lump-sum payment and preserves your cash for your day-to-day operating needs.

How Premium Financing Works

Premium financing is like a short-term loan. FIRST Insurance Funding of Canada will pay your insurance premiums on your behalf and you pay back that loan over time, typically between nine and twelve months.

Interest rates are fixed so your payments are consistent and protected from rate fluctuations.

Another benefit is that interest is calculated on a declining balance and may be paid off at any time and only calculated up to the month of full repayment.

The Benefits of Premium Financing with FIRST Canada

Smooth out cash flow with easy monthly payments

Avoid lump-sum payments with easy monthly payments.

Reinvest working capital in your business

Keep your cash in your business or invest it in opportunities with a better return.

Preserve your available credit

Unlike a typical loan, premium financing often does not affect overdraft and credit lines or borrowing capacity.

Consolidate multiple payments

All your commercial insurance policies can be combined into one easy monthly payment.

Costs can be lower than borrowing alternatives

Interest costs are fixed and can be less than alternatives such as credit lines, credit cards, or sale of investments.

FIRST Canada is the leader in payment solutions

We partner with your insurance broker to provide flexible solutions customized for your business.