Credit insurance gives business owners peace of mind to grow their business whilst removing the risk of non-payment through insolvency. An insurer will provide limits for all customers and if that customer falls into liquidation, the outstanding invoices to that customer are covered through the insurance.
The benefits
Protection - Ultimately, the policy is there to quickly replace money lost through bad debt
Growth - It facilitates expansion with security and allows you to deal confidently with new clients and increase credit lines to existing ones
Funding - Helps in securing finance as funders are confident that the business will not have a loss as a result of a bad debt
Profitability - Improve profitability by safely increasing your exposure to more customers
We used Magna Money when we were reviewing the costs for our credit insurance. They tendered the work professionally and provided us with a shortlist of providers, clearly explaining the benefits of each and some of the hidden fees of others. We were able to save 25% of the cost of our existing policy.
MartinRSJ
reviews
Who we work with
A Selection of our strategic finance partners
costs
What does it Cost?
The cost of credit insurance is usually charged as a % of turnover. The percentage is based upon a forecast when the policy is taken out and then the premium is paid monthly throughout the year.
Find out how we can help?
Providing bespoke, collaborative and expert funding advisory to business owners throughout the United Kingdom
