Greenpoint Agency, Inc., Credit Insurance Brokers

Typical Bank Loan Insurance (Credit Insurance)


Insurable Loan Types and Transaction Characteristics

Including The "Business Advantage Credit Insurance" Program


A.  Loan Types-  Request Flexible Business Advantage Credit Insurance Program to Customize the Loan Type.

1.  Standard Account Receivables Revolving Lines of Credit Insurance.

2.  Extended Accounts Receivables Credit Insurance Program. Enables loan terms up to 2 years. Longer term Credit Insurance Program may be available on an exception basis
3.  Contract Deposit Credit Insurance provides insurance protection against default, for "Contract Deposits" during an extended term manufacturing or service agreement. 
4. Work-in-Process Credit Insurance provides insurance protection against default, for the cost of Work-in-Process covered by an Insurance Contract, pursuant to which a manufacturer is performing a manufacturing process.
5. Policy may provide for up to 100% insurance protection, when combined with other forms of risk sharing.

Policy Term and Loan Term(s) - Business Advantage Credit Insurance enables the policy term to be either 1 year or 2 years. Policy can be issued with  "Non-Cancellable Credit and Country Limits.


1.       Short Term –  Rolling 30 to 60 days – Most common transactions are collateralized by Accounts Receivables.

2.     Extended Term Loans – Up to 2 or 3 years, longer terms may be available too.

B.     Collateral


1.     Accounts Receivables – May be used for both Short Term and Intermediate Term Loan  Credit Insurance.

2.      Equipment

3.     Construction Projects Receivables; ie. Bridge, tunnel, highway, development.


C.     Credit Form Extended by Borrower to Third Party Debtor


1.      Loan Note or Agreement, collateralized by receivables or other asset when available. – Most frequent.

2.     Lease – Infrequent.


D.    Bank Credit Insurance Form.


1.       Policy Issued Directly to the Bank – Available through Business Advantage Credit Insurance Program.

2.      Bank Listed as Loss Payee on borrower’s credit insurance policy – more common. Also, available with Business Advantage Credit Insurance Program.


E.     Geographic Availability  - Both domestic and export/import transactions are customary.


1.       USA

2.      Approximately 50 countries.


F.     Borrower Types


1.       Private entities. Typically corporations or limited liability companies (LLC).

2.      Public entities. Both national and local governments will be considered for coverage in various parts of the world.

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