How does the down payment on an Insurance Premium Finance loan help mitigate the risk?

• A proper minimum down payment will automatically set a good debt to collateral ratio in almost every scenario. The down payment is required to allow us headroom to request cancellation and receive the unearned premium (per state laws) before collateral runs out.
  • Evolution uses the phrase “Day Money Runs Out” and created a special report that will only be printed under collateralized loans.
    • Want to go with a lesser down payment; Evolution has a spreadsheet that shows a “DMRO” solution for that situation. Knowing your collateral position can help maintain as much revenue as possible.