Professional Indemnity Insurance (PII) Funding
Anyone in a professional practice will invariably need to set apart and maintain some cash for PII or Professional Indemnity Insurance. PII needs to be renewed annually. Professional practices come with some recurring costs and professionals often need to pay for them at quick successions. PII renewal is one such recurring cost that quickly follows HMRC tax demands. Covering these back-to-back expenses can put financial strain on business. This is where Professional Indemnity Insurance funding from Gable Asset Finance fits in.
PII funding from Gable Asset Finance is an unsecured loan that helps professionals to spread their costs over an alternate credit line, releasing the burden from existing ones. Our PII funding is competitive and is tailored to meet specific business needs. Once we approve the loan applications, professionals are given a choice. They can either take the money and pay their insurer on their own or ask us to pay their insurer directly.
What are the benefits of PII funding from Gable Asset Finance?
- PII funding for Practising Certificates or Insurance Policy are unsecured. We don’t ask for any collateral and hence, there is absolutely no risk of losing personal or business assets.
- We offer a flexible repayment term. Borrowers can opt to repay the funds over a period of 6 months, 10 months or 12 months depending on their other financial liabilities.
- We offer highly competitive rates that do not put any burden on the borrowers and their businesses.
- We either pay the yearly premium directly to the PII insurer or hand over the funds to the borrowers as per their choice and request.
- We email all documents directly to the borrowers.