Business has always come with risk, yet that risk is massively reduced when a tailored credit insurance policy is taken out as well as it actually boosting business growth.
So how does credit insurance protect against non-payment and enable SME growth? Well, it helps expanding businesses avoid risk, and grow confident in the knowledge that they are protected against bad debt.
Devised to ensure a business is protected should customers go bust, it offers financial protection and security against non-payment. It supports growing businesses as they are able to commit to much larger contracts, because they can trade to much higher levels, knowing they are covered.
I am acutely aware of the importance of this invaluable business insurance, so when a client I had secured an invoice finance facility some time ago, that was growing rapidly, approached me to discuss the options in the market I recommended a review of their existing credit insurance policy.
I worked alongside SME credit insurance specialist, Paul Rogers from W Denis Credit Risks Ltd, an industry expert I have known and trusted for more than 20 years.
Together, we were able to put together a bespoke policy that would allow for their rapid growth, enhancing future opportunities and maximising increased trading levels - in short, we were able to offer them a tailored policy, with a dedicated account manager, supporting their business growth with a huge saving of nearly 30% per annum.
Speaking about the policy, Paul comments, “After reviewing their original policy it was clear it was no longer fit for purpose. What this growing business needed was an enhanced and robust credit insurance policy to ensure they were suitably covered for their ambitious plans. They needed a bespoke policy with much higher trading limit coverage. Going out to market – as an independent broker – we could access all providers.”
“What we were able to secure was an improved policy structure with increased credit limits meaning they could trade at much higher levels, safe in the knowledge they would be protected should the unthinkable happen, all at a saving of almost £4k a year compared to their previous policy.”
“What’s more, this new policy boasted much better terms at an extremely low rate and we were able to secure this on a 2 year deal with a no claims bonus to boot. If we were tied to one provider there would have been no way we could have accessed this deal. Instead, our knowledge, reputation and independence always ensures we get the best policy at the best price.” concludes Paul.
Credit insurance policies can cover specific, named, larger clients, it can protect against supply chain issues, cover your entire ledger, it can even provide protection on export and import issues.
If your business is looking to grow, take on higher value accounts and contracts and wants financial protection in the face of adversity, then you should get in touch today. I will look at your existing finance package and funding and suggest the most appropriate cover for your business needs.
You see, looking after your business is my business. As an independent broker, I am not working to any commissions, targets or bonuses, so I am not tied to any lenders. This means you only get honest and impartial advice on what’s right for you, not me!
Here at Capital Corporate Finance, we arrange a myriad of individual SME finance for SME businesses, which we usually arrange faster and at better rates than going direct – this is due to our unique fast track independent broker status we have with key lenders, including:
Let me help your business find the finance and protection it needs quickly and easily. We can meet, we can chat over the phone, we can have a Zoom / Teams meeting. My direct line is 07785 596053 or email me on carole@capitalcorporate.co.uk
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