2. Premium Financing is . . . A financing option for bond purchasers to cover the cost of a surety bond. Premium Financing is a Loan.
3. Premium Financing is . . . An Agreement between 3 Parties. - Bond Purchaser (You) - Insurance Company (Writing Bond) - Finance Company (Doing Loan)
4. Financing Surety Bonds is Unique Only available for Cancelable Bonds. Does your bond qualify? - Varies greatly. Check bond form. - Ask your agent or Inquire Here.
5. Financing Surety Bonds is Unique Financing co. will require 25% down. First 2 months payments up front. The rest is financed at 10-15% APR over the term of the bond (~1 year).
8. Let’s Do an Example What you pay: $2,500 + Months 1 and 2 payments You will make recurring monthly payments on the remaining balance for the term of the bond.