Liverpool law firm receives better loan rate for their professional indemnity insurance with specialist professions lender
Deal type: Working capital
Facility: Insurance premium finance
Facility value: £682,000
The situation
A law firm in Liverpool that we regularly work with was renewing their Professional
Indemnity (PI) Insurance. They had been financing their policy through a high-street lender for several years.
The solution
When the owner mentioned their PI Insurance finance was up for renewal, we
offered to review it to see if we could find them a better rate.
They were happy for us to go ahead, so we put together a proposal and sent it to our specialist funding panel.
The result
By switching to one of our lenders who specialises in professional services, we
reduced the client's interest rate by 0.25%.
The new 12-month agreement freed up more working capital that they could use
elsewhere in their business.
Your finance deal is a conversation away
If your insurance policy is coming up for renewal, we can help you spread the costs with insurance premium finance. It’s one of the working capital solutions we can provide for your business.
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