A large renewal premium, spread into instalments across the policy period.
- Some non-bank funders can pay the premium within 2 business days of a complete application
- Loans from $50K to $5M, sized to the premium on your renewal invoice
- Builders, transport operators, hospitality groups, manufacturers and professional firms
- Pays premiums on business policies such as property, liability, fleet and professional indemnity, as invoiced by your insurer or insurance broker
- Full-doc (tax returns) and low-doc or alt-doc (BAS, bank statements or an accountant's letter instead) funders, plus no-doc against property
The renewal notice is in, and the premium is a larger single payment than the business wants to make at once. It falls due on one date, while the money to cover it arrives across the year. Insurance premium funding is a loan that pays the premium up front. The business then repays it by instalments, with interest or fees, over an agreed term. It is a finance product, not insurance. Settled With Joe is a finance broker only: we do not arrange, recommend or advise on insurance, insurers, policies or cover. Those decisions stay with your insurer or insurance broker. Our part is the funding. Joseph Farhat and his team look at the premium, the due date and how cash moves through your business, then set out what lenders can offer to pay it.
Who we can help access finance
- A civil builder renewing contract works and public liability policies, with the full premium invoiced in one sum.
- A transport operator whose fleet renewal lands in the same quarter as a large BAS payment.
- A hospitality group renewing property and liability policies for several venues on the same date.
- A manufacturer whose renewal premium has risen and no longer fits the cash set aside for it.
- An engineering or design firm whose professional indemnity renewal is one of its largest bills of the year.
- A growing business that has added sites, staff or vehicles, so this year's premium is well above last year's.
- A business whose insurance broker has offered a funding arrangement and which wants it compared with other lenders before signing.
How Insurance Premium Funding Works
A premium funder is a lender that pays the full premium to the insurer, usually through your insurance broker, on or before the due date. Your business repays the funder by instalments, often monthly, across the term of the funding agreement, with interest or fees added. The agreement gives the funder rights over the policies it has paid for. Funders commonly take a power of attorney that lets them cancel the funded policies if instalments are not paid, and then apply any refund of unearned premium to the debt. Read that part of the agreement before you sign, so you know exactly what follows a missed payment.
Premium funding is one of several ways to pay a large premium. Some insurers take their own premium by instalments, and your insurer or broker can tell you whether yours does. A business line of credit, overdraft or short-term loan can also pay the premium. With those, no funder holds rights over the policy, but they draw on your borrowing limits and may need security. Joseph Farhat and his team compare the finance options across our 90+ bank, non-bank, and specialist panel, and set out the cost, term and conditions of each so you can decide with the full picture.
Settled With Joe is not an insurance broker. Your insurance broker or insurer advises on the cover; we look at the funding. If the premium sits among several bills the business may be unable to pay on time, talk to your accountant or a registered insolvency practitioner before borrowing anything.
What Lenders Assess for Insurance Premium Funding
The premium
the renewal invoice or quote, the insurer, the policy period and the total amount to be funded.
Trading and cash flow
recent business bank statements that show the instalments can be met from normal trading.
Payment record
how the business has kept up with rent, suppliers, earlier finance and the ATO.
Existing commitments
current loans, equipment finance and any ATO payment arrangement.
The instalment schedule
how the repayments line up with the policy period and the seasons of your business.
Guarantees
some funders and lenders ask for a director's personal guarantee, which can reach personal assets.
The Insurance Premium Funding Process: What to Expect
- Tell Joseph Farhat and his team the premium amount, the renewal date and when money comes into the business across the year.
- Send the renewal invoice or quote from your insurer or insurance broker, recent business bank statements and details of any current loans.
- We set out the funding options from the panel side by side: rate, fees, instalment amount, term, and what each agreement says happens after a missed payment.
- You read the agreement and sign once you are comfortable with it. Any question about the policy itself goes to your insurer or insurance broker.
- The funder or lender pays the premium on the agreed date and instalments begin on the agreed schedule. We stay in contact through the term in case your position changes.
Indicative Finance Options
| Lender Type | Indicative Rate | Security | Typical Loan Range | Loan Term | Speed to Funding |
|---|---|---|---|---|---|
| Bank | From ~7.5% p.a. | Property or business assets, through a business loan or overdraft | $100K to $5M | Up to 12 months, or revolving | 2 to 6 weeks |
| Non-Bank Lenders | From ~8% p.a. | Rights over the funded policies, sometimes a director's guarantee | $50K to $5M | Up to 12 months, set against the policy period | Within 2 business days |
| Private Finance | From ~1.2% per month | Property security | $100K to $5M | 1 to 12 months | Available for unique scenarios |
Indicative figures only. Actual rates and terms depend on your project, financial position, property location, and lender assessment at the time of application. Rates are subject to change.
Why borrowers choose Settled With Joe for insurance premium funding
We represent you, not the lender
Joseph Farhat and his team act for your business from the renewal notice through to settlement of the funding.
Funding only, never the policy
we compare lenders and terms, and leave cover, insurers and amounts to your insurance broker or insurer.
Cancellation terms read before you sign
we show you what each agreement allows the funder to do if an instalment is missed.
More than one way to pay
premium funding and general business facilities set out side by side, with the cost, term and conditions of each.
Fewer applications, fewer enquiries
each credit enquiry is recorded on your file, so we go first to a funder whose criteria your business already meets.
90+ lenders on one panel
bank, non-bank, and specialist, so a business with full financials can go to a bank at a sharper rate, and a renewal due within days still has options.
Private finance for unique scenarios
where bank and non-bank lenders are not the right fit, we can introduce you to private finance options.
Usually no direct cost to you
as a broker we are typically paid by the lender on settlement.
An honest answer early
once your insurer or insurance broker has confirmed the premium and its due date, tell us both and we will tell you what is realistically achievable before that date.
Frequently asked questions
What is insurance premium funding?
It is a loan that pays an insurance premium in full, which the business then repays by instalments with interest or fees. The lender, called a premium funder, pays the insurer or insurance broker directly. Under the funding agreement, the funder holds rights over the policies it has paid for, including the right to cancel them if repayments stop. Premium funding is a finance product. It is not insurance.
Do you arrange or advise on the insurance itself?
No. Settled With Joe is a finance broker, not an insurance broker. We do not arrange, recommend, compare or advise on insurance, insurers, policies or cover levels, and we do not comment on whether a policy suits your business. Your insurance broker or insurer advises on the cover; we look at the funding. Once your insurer or broker has confirmed the premium, Joseph Farhat and his team can work out how to pay it.
What happens if an instalment is missed?
The exact terms are in your funding agreement, and they differ between funders, so read them before you sign. If repayments stop, the funder can usually cancel the policy under the funding agreement. Funders commonly hold a power of attorney for this. Any refund of unearned premium is applied to the debt, and dishonour or cancellation fees may be charged. A cancelled policy can leave the business uninsured. If a payment is going to be late, contact the funder before it falls due. Your insurance broker can explain what a cancellation would mean for your cover.
Can I pay my insurer by instalments instead?
Some insurers take their own premium by instalments. Your insurer or insurance broker can tell you whether yours does and what it costs. A premium funder is a separate lender, and a business line of credit or loan is another option again. Joseph Farhat and his team set out the cost and conditions of each finance option, and any question about the insurer's own terms goes to your insurer or insurance broker.
Is premium funding for a business covered by consumer credit law?
Generally not. The National Credit Code applies to credit for personal, domestic or household purposes, or for residential investment property. Paying a business insurance premium is a business purpose, so the Code and the consumer responsible-lending rules do not apply, and lenders set their own credit criteria. You may be asked to sign a declaration that the credit is wholly or predominantly for business purposes. That declaration must be true. It has no effect if the lender knew, or should have found out, that the credit was really for a personal purpose. We still check the instalments suit your cash flow before anything is lodged.
What does premium funding cost?
The cost is the interest or fees added to the premium and spread across the instalments. Funders and lenders quote in different ways, so compare the total amount repayable, not a single headline figure. Ask about establishment, dishonour and cancellation fees too. The table on this page shows indicative starting rates by lender type. Joseph Farhat and his team will set out the total cost of each option in dollars before you sign anything.
Can I get premium funding with low-doc or no-doc?
Often, yes. Many premium funders work from the renewal invoice, recent business bank statements and your trading history rather than full financial statements. Very large premiums, or a general business loan used to pay one, may need full-doc. No-doc is generally limited to loans secured on property, and costs more. If that property is your home, it is at risk if the loan is not repaid, so get independent legal advice before signing.
Do you work with borrowers with bad credit?
Yes, we do. Defaults, arrears or a judgment on a credit file do not rule out premium funding, and you will not be judged for them in the conversation. A listing tells a funder little about how the business trades today or whether it can meet a monthly instalment. Some lenders on our panel give more weight to recent trading, bank account conduct and the premium being funded than to the credit report, and set a price for the risk instead of turning the file away. Mention it in the first call, so the application goes to a lender that accepts it and no unnecessary enquiries land on your file. You will hear what is realistic from Joseph Farhat and his team before anything is lodged.
Why work with Settled With Joe to arrange your insurance premium funding?
You deal with one person, not a string of lenders. Those who ask us about premium funding are mostly owners and directors facing a fixed renewal date: a premium that has climbed, several policies renewing together, a BAS payment in the same month, or a funding offer they want tested against the market. We see this every renewal season, and you will not be judged for needing help with it. Funders weigh your trading, your cash flow across the year and how each instalment will be met. Our panel covers 90+ bank, non-bank, and specialist lenders, so a business with full financials can be placed with a bank at a sharper rate, and a tight due date still has options. Settled With Joe is based in Sydney and arranges premium funding for businesses Australia-wide. Joseph Farhat and his team will give you a straight answer, early, on what is possible before the premium falls due.
Do you give financial advice?
No. We do not guide you on your finances, nor give financial advice. We focus on outcomes and solutions of presenting your unique scenario to the right lender so you can access funding in a timely and compliant manner.
Do you help with insurance premium funding outside Sydney?
Yes. Settled With Joe is based in Sydney and arranges insurance premium funding Australia-wide, covering both metro and regional areas. We work with clients in Sydney, Melbourne, Brisbane, Perth, Adelaide, and Canberra, as well as regional areas including Newcastle, Wollongong, Geelong, Gold Coast, Sunshine Coast, and Toowoomba. Funders look at your business and the premium rather than your postcode. Joseph Farhat and his team will identify which lenders on the panel suit your renewal and cash flow.
