Providing security for your business
At Lloyds TSB Commercial Finance Ltd we understand that bad debt is a risk that every business faces in the current economic climate. We know you run a very successful business, but have you thought about what would happen if a major customer became insolvent?
Lloyds TSB Commercial Finance have developed a flexible, affordable Debtor Protection product, that has benefited over 1300 of our clients, with claim payments made of over £4m in the year to November 2009.
Features & Benefits of Debtor Protection
Credit Limit Coverage – If within 30 days of sign up we cannot offer you cover on at least 55% of your ledger by value you may cancel with a full refund of premiums paid.
Flexible – no long term policy periods. You can give us 90 days notice at any time to terminate your Debtor Protection agreement
Protection – covers you for up to 90% of the value of a bad debt suffered
Cash Flow – allows bad debt provisions to be reduced and replaces cash flow that would have been lost due to bad debt
Trade In confidence – protects both overseas and domestic debt and our credit monitoring service may help you identify a potential credit risk before it becomes a bad debt.
Hassle Free – simple claims process and on-line policy management system keeps you in control.
Cost
We can offer Debtor Protection at competitive rates. These will vary according to the size of your business and the sector within which you operate, but will typically range from 0.15% to 0.85% of your annual turnover. There is no minimum premium, and unlike other providers, we do not lock you in to a long term agreement.
If you’re not interested in funding we offer a stand alone, FSA regulated Debtor Insurance product.
The provision of credit or leasing services by us is subject to your meeting our Credit approval. Please ensure that you only apply for credit or leasing services that you can comfortably afford.