Starting your own business often begins with fundraising. You might have money set aside for this purpose or secure a loan from your local bank. Depending on the nature of your business, you might also receive a significant amount of money directly from investors. However, investor funds often come with conditions. This raises the question: can you use investment funds to purchase commercial insurance and other essentials that don’t specifically pertain to operational costs? Here’s what you need to know about using investment funds for things like commercial insurance. Regardless of whether you can use these funds or not, we’ll always be here at Atkinson Casey Agency in Monroe, GA to help you secure commercial insurance for your business.
Can Investment Funds Be Used for Commercial Insurance? It Depends…
Commercial insurance policies are necessary to operate your business, but some investors may expect you to cover these costs yourself, reserving the money they’ve invested for other business activities. The best way to ensure you can use investment funds for whatever your business needs, like commercial insurance, is to read over your contract and ask beforehand. If there are any conditions in the contract that prohibit this, or if your investor tells you they want you to direct the funds to something specific, you’ll know that you need to find another way to purchase a policy or, if possible, look for another investor with less prohibitive terms.
Shop Commercial Insurance With Atkinson Casey Agency
Atkinson Casey Agency in Monroe, GA is here to help you with your commercial insurance needs. We’ll help you find the commercial insurance policies that will protect your business and benefit you most. Contact us today to get started!
