Our Commitment to You

IQumulate Premium Funding offers competitive finance options designed to provide quick access to funds when you need it, to grow or expand your business and importantly, to free up cash flow.

We work collaboratively with our clients and partners to mitigate risk and improve cashflow management to deliver excellence in customer satisfaction and outcomes by providing innovative technology products and exceptional service delivery.

Amongst our suite of purpose-built insurance premium funding products is our purpose-built online quoting platform, Edge, which allows easy comparison of costs to customers over the term of the insurance premium funding loan.

We provide clear and transparent information about our insurance premium funding practices, from upfront costs disclosure (including total fees, charges, and an Indicative APR*), to ensuring that the customer remain well informed of current lending standards before deciding to borrow.

Through our hardship programs, we have an experienced and dedicated team of loan professionals ready and committed to assist and support your business.

We provide business owners with the flexibility to manage their cashflow by spreading their insurance costs.

Let’s talk about your premium funding needs today.

IQumulate Premium Funding is one of Australia’s leading online small business lenders and recently, received approved accreditation under the premium funding industry’s first code of practice.

This new industry code has been developed by members, with the assistance of AFIA (Australian Finance Industry Association), and IQumulate Premium Funding is proud to have contributed to the early planning discussions in 2019 and have been instrumental to the development and now deployment of this code in 2022.

This code ensures that lenders provide transparent, clear and concise information to prospective borrowers before a loan is accepted, empowering customers to make the best choice for their business needs, ultimately streamlining and easing a customer’s ability to compare small business loans.

What is the difference between Flat Interest Rate and Indicative Annual Percentage Rate (APR)?

When applying for a loan an important question to ask through your decision-making process is “How much will this cost me?” For this reason, it is important that we provide information to you to understand the cost of our product so you can make an informed decision when entering into a premium funding loan.

Interest is the main cost of borrowing the money. Along with application fees, these costs will be disclosed to you ahead of entering into a loan agreement. If you are receiving a quote from a premium funding provider that is accredited against the Insurance Premium Funding Code of Practice, you will clearly see:

  • Total Amount Repayable – shows the sum of all the repayments which includes principal, interest cost and application fees. This will be displayed in dollar ($) terms.
  • Annual Percentage Rate* – an interest rate that is used to calculate the cost of the loan taking account of the reducing balance of the loan amount, expressed as an annual rate. For the purposes of calculating the annual percentage rate, the cost of the loan is exclusive of fees.
  • Flat Interest Rate – the total interest charges divided by the total principal amount of the loan. For the purposes of calculating the flat interest rate, the cost of the loan is exclusive of fees.
  • Application Fee – the initial cost of establishing or renewing your premium loan

When you receive an insurance premium funding quote, you will be quoted a fixed rate of interest meaning that, in the absence of any variations to your premium loan, your repayment amounts will not change over the loan term, which is normally 12 months or less.

* The Annual Percentage Rate is indicative and assumes the loan starts on the inception date of the insurance policy(ies) being funded. The Total Amount Repayable (including Application Fee) will not exceed the sum listed on your Premium Funding Agreement even though the Annual Interest Rate will differ if the date of acceptance of your offer is later than the inception date of the insurance policy(ies) being funded.

Whether you are a sole trader or a corporation wishing to apply for a loan, make sure you fully understand the total costs to your business. It’s important to understand the different types of business loan rates – interest, fixed interest, variable interest, simple interest, compound interest and APR, and how those interest rates are calculated over the full loan term, so you can make an informed decision about your business needs before committing to your choice of premium funder.

Because it is your choice. Let’s talk.


AFIA Premium Funding Code of Practice