The business of FSL was originally set up to provide a facility for financing insurance premiums through cash flow management solutions. The service was designed to improve premium payment options for insurance purchasers by offering monthly or quarterly instalments, tailor-made to individual requirements.
The need to provide a cash flow solution for the payment of insurance premiums has proven to be a necessary and valued service to businesses in New Zealand. This service remains a growth area of FSLs business.
Based on the very successful cash flow solution service offered for the funding of insurance premiums, FSL has diversified into other niche areas of finance and is looking to grow the product offering to assist companies and individuals with their cash flow requirements.
Along with the current insurance premium funding product available, two new products have been developed which also provide a much needed cash flow solution to both businesses and individuals.
The Education Fee Funding (EFF) product has been developed primarily for parents who wish to send their children to private or independent schools but currently find that the school fees place undue financial pressure on household finances early in the year. EFF is a simple and flexible cash flow option for Fee Payers who wish to utilise FSLs services to assist parents or care-givers paying Education Fees and incidental costs on a monthly basis.
Practice Fee Funding (PFF) has been developed to assist law firms pay their annual practicing fees. In conjunction with the Auckland and Wellington District Law Societys, FSL now offers law firms an opportunity to manage the payment of their practising fees by providing a cash flow facility to spread this payment over monthly or quarterly instalments.